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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, 13 October 17
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS OF 2017 TOTALED 51 MMST; UP 62% YOY, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million shor ...
Thursday, 12 October 17
THERMAL COAL PRICES IN EUROPE AND ASIA PUSHING HIGHER - DANIEL HYNES
Coal markets took the lead from the oil market, with thermal coal prices in Europe and Asia pushing higher says Daniel Hynes,Senior Commodity Strat ...
Wednesday, 11 October 17
2020 DEBATE AT IBIA'S LISW EVENT: COMPLIANCE & ENFORCEMENT – IT'S COMPLICATED : IBIA
There is no doubt about the start date for the 0.50% marine fuel sulphur limit in MARPOL Annex VI, but questions remain around how it will be enfor ...
Wednesday, 11 October 17
SHIPPING MARKET INSIGHT - TIMOS PPADIMITRIOU
With the majority of second-hand tonnage transactions taking place in the dry bulk sector it’s easy to lose sight of what is happening over a ...
Tuesday, 10 October 17
DELIVERY OF CARGO WITHOUT ORIGINAL BILLS OF LADING - UK P&I CLUB
KNOWLEDGE TO ELEVATE
- It is common in a lot of trades, whether bulk or oil, to accept a Letter of Indemnity (“LOI”) for non-produ ...
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Showing 1916 to 1920 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Planning Commission, India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Australian Coal Association
- Wilmar Investment Holdings
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