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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, 05 January 17
CAPE MARKET HAVE KEPT SURPRISINGLY FIRM AND ACTIVE DURING THE CHRISTMAS AND NEW YEAR HOLIDAYS - FEARNLEYS
Supramax
The first week after a slow Christmas break has started off with little activity and softening rates. Not surprisingly, the market is fi ...
Thursday, 05 January 17
COMPARISON OF HONG KONG AND LONDON ARBITRATION - SKULD
KNOWLEDGE TO ELEVATE
Whilst London arbitration is the most popular platform for resolution of charterparty disputes, where the parties involved a ...
Wednesday, 04 January 17
INDONESIA'S COAL PRODUCTION IS ESTIMATED TO REACH 434 MILLION TONS IN 2016 EXCEEDED THE GOVERNMENT'S INITIAL TARGET
Indonesia's coal production is estimated to reach 434 million tons in 2016 exceeded the government's initial target. The Ministry of Energy ...
Tuesday, 03 January 17
BENGKULU TO IMPOSE TOUGHER REGULATION FOR UNPROCESSED COAL AND MINERALS EXPORTS IN 2017 - MEDIA
Bengkulu provincial government is planning to impose tougher regulation for export of coal and mineral in 2017. According to liputan6 online portal ...
Monday, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
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Showing 2161 to 2165 news of total 6871 |
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- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- The University of Queensland
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
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