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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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Wednesday, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
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Showing 1776 to 1780 news of total 6871 |
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- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
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