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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, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1936 to 1940 news of total 6871 |
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- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
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