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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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Friday, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
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