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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, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
Tuesday, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
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Showing 1881 to 1885 news of total 6871 |
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- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Deloitte Consulting - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
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