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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, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
Tuesday, 06 February 18
THE FUNDAMENTALS FOR INDIAN COAL IMPORTS CONTINUE TO LOOK PROMISING - TORVALD KLAVENESS
Back in August we reported that the fundamentals impacting Indian coal imports looked more promising.
Trade flow data today implies 17.4Mt of ...
Monday, 05 February 18
SUPRAMAX : INDONESIA TO INDIA PASSING THROUGH SINGAPORE HAS SOFTENED
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has softened, week over week, own ...
Friday, 02 February 18
SUPRAMAX : INDONESIA TO CHINA COAL TRIPS ARE PAYING AROUND MID USD 9000 - FEARNLEYS
Supramax
Rather quiet week within Atl, specially Continent due to lack of cargoes.
According to Fearnleys Weekly - Dry bulk report published ...
Friday, 02 February 18
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 54.1 MMST, DOWN 8.8% YOY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
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Showing 1816 to 1820 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
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