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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, 20 March 18
SHIPPING MARKET ANALYSIS - GEORGE LAZARIDIS
It has been a chilling start to the week for the global economy, with the vast majority of stock exchanges noting a fair drop, after a series of se ...
Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
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Showing 1766 to 1770 news of total 6871 |
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- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Economic Council, Georgia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- The University of Queensland
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
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