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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, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Australian Coal Association
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
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