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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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Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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Showing 1721 to 1725 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Renaissance Capital - South Africa
- PTC India Limited - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Carbofer General Trading SA - India
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