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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, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
Wednesday, 25 April 18
TANKER MARKET INSIGHT - THEODOROS NTALAKOS
We had the opportunity to be part of Intertanko's Hellenic Mediterranean Panel last week in the SNFCC and to present an outlook on the tanker f ...
Tuesday, 24 April 18
IMPORTING INDONESIAN COAL MAKES SENSE FOR INDIAN COASTAL PLANTS EVEN WHEN IT IS COSTLIER THAN INDIAN - ECONOMIC TIMES
Rising Indonesian coal production and lower Chinese demand have pulled down Indonesian coal prices by 22% over the last 45 days, a trend that augur ...
Tuesday, 24 April 18
IMO AIMS TO HALVE GLOBAL SHIPPING EMISSIONS - BUT WHAT WILL IT COST? - WOOD MACKENZIE
Global bunker fuel costs could rise by up to US$60 billion annually from 2020, in a full compliance scenario, when the International Maritim ...
Tuesday, 24 April 18
TWO 56K-DWT OPEN HONG KONG AND SINGAPORE WERE FIXED FOR INDONESIA COAL TRIPS TO CHINA, AT $9,500 AND $11,000 RESPECTIVELY - BALTIC BRIEFING
Capesize
This week has seen the Cape 5 timecharter weighted average almost double. Similarly, the Brazil to China ore rates climbed over $4.50, f ...
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Showing 1736 to 1740 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Australian Coal Association
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- PTC India Limited - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
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