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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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Thursday, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
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