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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, 05 December 17
OIL PRICES HAVE GAINED SOME TRACTION THESE PAST FEW DAYS ON TALKS OF ANOTHER OPEC & RUSSIA PRODUCTION CUT EXTENSION - GERRY LATHROP
Oil prices have gained some traction these past few days on talks of another OPEC (including non-OPEC Russia) production cut extension.
The cu ...
Tuesday, 05 December 17
THE COKING AND THERMAL COAL RECORDING SMALL GAINS - DANIEL HYNES
Coal markets were higher, with both coking and thermal coal recording small gains, said Daniel Hynes Senior Commodity Strategist at ANZ in his late ...
Tuesday, 05 December 17
WEEKLY US COAL PRODUCTION ESTIMATES DIP WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.1 million short ton ...
Thursday, 30 November 17
CONTEMPLATING COAL'S CONTROVERSY AT COP23 - BENJAMIN SPORTON
Representing the coal industry at climate talks is never going to be an easy proposition. For many people, coal and climate action are incompatible ...
Wednesday, 29 November 17
THE LAST DAYS OF COAL? - ALIBRA SHIPPING
At least 15 countries have joined an international alliance to phase out coal use for power generation before 2030.
Britain, Canada, Denmark, ...
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Showing 1861 to 1865 news of total 6871 |
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- Mintek Dendrill Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Parliament of New Zealand
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Australian Coal Association
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
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