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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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Thursday, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
Thursday, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
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Showing 1696 to 1700 news of total 6871 |
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- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
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