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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, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
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Showing 1746 to 1750 news of total 6871 |
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- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- The University of Queensland
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
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