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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, 10 March 17
THE 5TH PHILIPPINES POWER AND ELECTRICITY WEEK RETURNS WITH A UNIQUE FOCUS IN 2017
5th Annual Philippines Power & Electricity
18-21 July 2017
Solaire Resort & Casino,Manila, Philippines
http://www.philippinespowe ...
Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The ...
Wednesday, 08 March 17
THE FREIGHT MARKET TODAY PROVIDES MUCH MORE CONFIDENCE COMPARED TO LAST YEAR - TIMOS PAPADIMITRIOU
So what's all the fuss about? During the past five months SnP activity has being surging exponentially in the dry bulk sector. Buyers are looki ...
Monday, 06 March 17
THE FREIGHT MARKET WAS CONTINUING TO FIRM UP THIS PAST WEEK
COALspot.com: The Freight market was continuing to firm up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk com ...
Friday, 03 March 17
U.S. WEEKLY COAL PRODUCTION ESTIMATED AT 15.7 MMST; DECLINE 6.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
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