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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, 27 December 17
SULPHUR EMISSIONS: THE OUTSTANDING CHALLENGES - UK P&I CLUB
The International Maritime Organization (IMO) has been working to reduce the harmful impacts of shipping on the environment.
It adopted Annex ...
Friday, 22 December 17
COAL INDIA BOARD CLEARS THE WAY FOR SCHEME FOR HARNESSING AND ALLOCATING KOYALA (COAL) TRANSPARENTLY IN INDIA - PIB
The Coal India Limited (CIL) Board cleared the decks for signing of Fuel Supply Agreement (FSA), for supply of coal.
According to Press Inform ...
Friday, 22 December 17
WILL THE DRY BULK INDUSTRY BECOME PROFITABLE IN 2018? - PETER SAND, BIMCO
As the dry bulk fleet is already expected to grow at a pace that matches demand growth expected in 2019, focus must be on improving the fundamental ...
Friday, 22 December 17
ESTIMATED U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 21 December 17
COAL CONSUMPTION DROPS AS GAS AND RENEWABLES CHEW INTO TRADITIONAL MARKETS - BABS MCHUGH
"The share of coal in the global energy mix is forecast to decline from 27 per cent last year to 26 per cent in 2022"
Global demand ...
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Showing 1841 to 1845 news of total 6871 |
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- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
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