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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, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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Showing 2076 to 2080 news of total 6871 |
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- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- The University of Queensland
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
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