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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, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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Showing 2221 to 2225 news of total 6871 |
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- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- VISA Power Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- The University of Queensland
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
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