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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, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
Monday, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
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Showing 2146 to 2150 news of total 6871 |
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- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
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