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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, 02 March 17
ULTRAMAX: INDONESIA TO INDIA COAL ROUNDS IS BEING FIXED AT AROUND MID 11K BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
Holiday mode within Atlantic i.e. very few movements but rates remained still positive, mostly in the USG region where tight tonnage sup ...
Wednesday, 01 March 17
2017 IS LOOKING LIKE IT WILL BE A GOOD YEAR FOR A NUMBER OF COMMODITIES - LINOS KOGEVINAS
2017 is looking like it will be a good year for a number of commodities. Following the price recovery witnessed in 2016 across a number of commodit ...
Tuesday, 28 February 17
PORT OF NEWCASTLE SHIPPED 17.39% LESS COAL IN JANUARY; TRADE VALUE UP 11.87% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,625.6 M ...
Monday, 27 February 17
THE FREIGHT MARKET WAS FIRMED UP THIS PAST WEEK; BCI ROSE 57.64% W/W
COALspot.com: The Freight market was firmed up this past week.
The Baltic Exchange, tracking rates for ships carrying dry bulk commod ...
Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
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- The University of Queensland
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
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