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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, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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Showing 2041 to 2045 news of total 6871 |
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- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- The University of Queensland
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
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