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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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Tuesday, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
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Showing 1706 to 1710 news of total 6871 |
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- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- White Energy Company Limited
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