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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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Showing 2051 to 2055 news of total 6871 |
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- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
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