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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, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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Showing 2031 to 2035 news of total 6871 |
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- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
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