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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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Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
...
Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
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- White Energy Company Limited
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
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