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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, 19 July 17
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Referring back to a previous Intermodal insight that was written in the first quarter of 2017, the author at the time had claimed that MR tanker ra ...
Tuesday, 18 July 17
CHINA'S ECONOMY HAS BOOSTED OPTIMISM IN THE MARKET - GEORGE LAZARIDIS
COALspot.com: China’s economy has boosted optimism in the market as its recently announced GDP growth for the second quarter of the year exce ...
Friday, 14 July 17
IMPORTED COAL IS STILL A SAFE AND RELIABLE SOURCE OF ENERGY IN GERMANY - VDKI
COALspot.com: Imported coal is still a safe and reliable source of energy in Germany. World coal mining has reached a high plateau, but not yet a t ...
Friday, 14 July 17
U.S. WEEKLY COAL-OUTPUT IN SIGNIFICANT DECLINE, EIA FIGURES SHOW
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.4 million short tonn ...
Thursday, 13 July 17
BELT AND ROAD SHIPPING INDICES OFFICIALLY RELEASED - XINHUA
COALspot.com: The Shanghai Shipping Exchange (SSE) Tuesday officially launched the Belt and Road shipping indices to track freight trade data among ...
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Showing 2001 to 2005 news of total 6871 |
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- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Minerals Council of Australia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
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