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Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
 It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has been set alight, said Allied Shipping in its latest weekly report.
According to George Lazaridis Head of Market Research & Asset Valuations of Allied, there has been a growing bullish vibe being felt for several months now in this sector, generated by the successive decreases being seen in the orderbook-to-fleet ratio during the course of the past year and all indicators in the freight market pointing to an improved balance. He further noted that the order book to fleet ratio for the dry bulk segment as a whole has now dropped to 7.72%, the lowest figure we have seen in over two decades now. This plays an important role in dissipating concerns over the glut in tonnage supply that we have seen in the market, though this is only half the picture. During the course of 2016, many viewed the excessively low earnings being a directly caused by the excessive number of new buildings being delivered. Having witnessed both the drop in the order book and at the same time a considerable improvement in freight rates, one can easily make the presumption that the supply-demand balance in the market is improving and at a fairly good pace. During the course of 2017, freight rates have held at levels well above what we were seeing back in 2016 and even 2015, while the recent rally that boosted the Baltic Dry Index to above 1,000 points before the start of the grain season in the Atlantic, has only re-enforced the bullish views that have been held by many in this regard.
George Lazaridis further said, it is no surprise therefore that we have seen buyers quickly flocking back into the secondhand market with fears that they will “lose” the opportunities that are still present in the market. Despite the fact that prices have on average risen by around 50% since the low levels of March 2016, asset prices can still be considered to be fairly competitive compared to what we have seen historically since the late 90’s. As such and with earnings now providing the promise of better returns and positive cash flows for new purchases, you can see that there is excess possibility for further price gains to be noted over the coming months. What’s more is that during the time period where we faced some of the biggest difficulties in the freight market, newbuilding prices continued to hold at abnormally high levels compared to equivalent periods in the past. As such secondhand asset prices are at an even higher the normal discount against what it costs to construct a similar vessel. This leaves the conclusion that if earnings continue to stay at “good” levels it will be hard to see similarly low price levels in the future for similarly aged vessels.
All these conclusions are based on the assumption that we have reached a balance in the market and that demand will continue to grow at least at its current momentum, allowing for a continual improvement in the freight market, said George Lazaridis.
This is a fairly big if however, especially if you take a closer look at the volatility being noted in the commodity markets and the general uncertainty being played out in many of those economies that play a vital role in seaborne trade. Further shocks could derail this balance and bring another round of “pains”. Although this does need to be of concern, it seems that even if these negative scenarios play out their consequences to the market would be more minor and short-term then what similar events have caused in the recent past. As such one can’t blame those optimists out there and given the relatively lower risks that are in view, there are fair grounds to claim that opportunities are now much better than most that we have come by in the past 5 years.
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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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Showing 1686 to 1690 news of total 6871 |
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- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- VISA Power Limited - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Minerals Council of Australia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- The University of Queensland
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Planning Commission, India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
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