We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 13 June 18
SHIPPING MARKET INSIGHT - SOPHIE COTZIAS
2018 marks quite a few milestones for Greek Shipping. No need to detail again the greatness of Greek Shipping or the singular position that Greek s ...
Monday, 11 June 18
AUSTRALIAN COAL PRICES HIT 6-YEAR HIGH AS ASIA DEMAND SPIKES - REUTERS
Australian thermal coal prices have risen to their highest level since 2012 as hot weather across North Asia spurs buying ahead of the peak summer ...
Monday, 11 June 18
ANALYSING A NEW AGE OF AUTONOMOUS VESSELS - IMO
The International Maritime Organization answers the questions of Government Europa on how the next generation of autonomous vessels can be regulate ...
Friday, 08 June 18
AUSTRALIAN THERMAL COAL PRICES SURGE AS ASIA DEMAND HEATS UP - REUTERS
Australian thermal coal prices have hit their highest level since late 2016 as the market heats up on strong demand across North Asia and China in ...
Wednesday, 06 June 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
As observed last month the price of oil hit its highest level since November 2014 reaching $80 per barrel. Global oil demand growth for 2018 was sl ...
|
|
|
Showing 1701 to 1705 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Australian Coal Association
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
|
| |
| |
|
