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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, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
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Showing 1716 to 1720 news of total 6871 |
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- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
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