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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, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
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Showing 1826 to 1830 news of total 6871 |
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- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
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