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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 February 18
HISTORY REPEATING ITSELF? - IEA
This month’s OMR is abbreviated to allow time for us to complete our annual five-year outlook that will be published in our report Oil 2018 o ...
Wednesday, 14 February 18
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
The second month of the year is traditionally a particularly interesting one for the shipping industry as a whole and even more importantly for the ...
Monday, 12 February 18
PANAMAX: WITH LIMITED FRESH ENQUIRY IN ALL AREAS, SPOT MARKET RATES DRIFTED LOWER THROUGHOUT THE WEEK - BALTIC BRIEFING
Capesize
A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Trans ...
Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Paci ...
Saturday, 10 February 18
COAL INDIA ON PATH OF SUSTAINABLE PRODUCTION GROWTH AND SUPPLY TO POWER AND NON POWER SECTOR - PIB
Supply of 371.8 MT of Coal to Power Sector and 103.1 MT Coal to Non-Power Sector Achieved in 2017-18 Till January,2018 Average Rake Loading To The ...
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Showing 1806 to 1810 news of total 6871 |
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- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Economic Council, Georgia
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
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