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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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Monday, 09 October 17
INDONESIAN COAL PRICE REFERENCE HITS NEW HIGH FOR 2017
COALspot.com: Indonesian coal benchmark price surges 2.13% in October month over month, the latest ministerial decree showed.
The benchmark pr ...
Monday, 09 October 17
INDIA'S COAL IMPORTS UP 10% IN SEPT AS POWER PLANTS FACE FUEL SHORTAGE - PTI
Coal imports rose by 9.5 per cent to 18.33 million tonnes (MT) in September, after having registered year-on-year decline for five months in a row, ...
Friday, 06 October 17
U.S. WEEKLY COAL OUTPUT HAS REBOUNDED AFTER DECLINING 5 WEEKS IN A ROW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.3 million short tons ...
Wednesday, 04 October 17
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
During the past couple of months the dry bulk market has displayed particularly strong momentum and we have been witnessing steady appetite and act ...
Tuesday, 03 October 17
VIETNAM'S COAL-FIRED THERMAL POWER DEPENDENT ON CHINA - VIETNAMNET BRIDGE
A report from the Green Innovation and Development Centre (GreenID) showed that, as of the end of last year, of 27 coal-fired thermopower plants, 1 ...
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Showing 1921 to 1925 news of total 6871 |
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- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
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