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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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Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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Showing 2086 to 2090 news of total 6871 |
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- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Planning Commission, India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
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