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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, 08 March 18
AVERAGE U.S. COAL MINING PRODUCTIVITY INCREASES AS PRODUCTION FALLS - EIA
Coal mining productivity in the United States increased 26% over the past five years, reaching 6.8 tons per miner hour in 2017, up from 5.4 tons pe ...
Wednesday, 07 March 18
WHEN AN IRRESISTIBLE FORCE MEETS AN IMMOVABLE OBJECT - GARD
KNOWLEDGE TO ELEVATE
Negotiable bills of lading are fundamental to trade. As documents of title, they are essential to the sale and carriage o ...
Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combinati ...
Tuesday, 06 March 18
FOREIGN INVESTORS ALLOWED TO BID FOR BIG MINING CONCESSIONS - THE JAKARTA POST
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be ...
Tuesday, 06 March 18
LNG VESSELS HAVE EMERGED AS THE FASTEST GROWING SEGMENT FOR THE WATERWAY - GERRY LATHROP
The day was July 25th 2016, a partly cloudy day on the Panama canal, and to most people a rather innocuous day without any real merit, however in s ...
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Showing 1786 to 1790 news of total 6871 |
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- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- The University of Queensland
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
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