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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, 13 December 17
REFINED COAL HAS MADE UP NEARLY ONE-FIFTH OF COAL-FIRED POWER GENERATION SO FAR IN 2017 - EIA
The U.S. power sector consumption of coal is increasingly shifting to refined coal, even as coal-fired electricity generation decreases. Use of ref ...
Wednesday, 13 December 17
DEMAND FOR THERMAL COAL LOOKED RELATIVELY ROBUST - DANIEL HYNES
Coal prices were a touch higher. Demand for thermal coal looked relatively robust, after reports continued to surface that Chinese authorities have ...
Wednesday, 13 December 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
As another year is coming to an end and much has been already written about the positive reversal in the dry bulk market, we think it is interestin ...
Monday, 11 December 17
INDIA CONSUMERS ARE SAID TO BE DESPERATELY SEEKING CARGOES - DANIEL HYNES
Coal markets were stronger, as strong demand outside China continues to spur buying said Daniel Hynes, Senior Commodity Strategist at ANZ.
Acc ...
Monday, 11 December 17
CAPESIZE FFA MARKET LOOKING PROMISING MOVING FORWARD - FIS
Capesize
Another very promising day for the big ships as rates continued to firm in both oceans and the paper market ate into the backwardation s ...
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Showing 1851 to 1855 news of total 6871 |
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- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
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