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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, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
Friday, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
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Showing 2016 to 2020 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
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