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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, 24 October 16
DRY BULK:MARKET ENDS WEEK WITH MIXED REACTIONS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ending with mixed direction as Cape and BDI was declined ...
Thursday, 20 October 16
THE PORT OF NEWCASTLE SHIPPED 16.97 PERCENT MORE COAL IN SEPTEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,216.7 m ...
Thursday, 20 October 16
A SUPRAMAX HAVE BEEN FIXED AT $12,500 FOR A INDIA TO BANGLADESH TRIP - FEARNLEYS
Supramax
A bit more activities with modest upturn in rates.
According to Fearnleys weekly report, US Gulf trip to Skaw-Passero has seen cons ...
Wednesday, 19 October 16
THE SHIPPING MARKET IS IN A WAIT AND SEE MODE - INTERMODAL
We are now heading towards the end of a rather volatile 2016 for the dry bulk segment. During the last 10 months there were never any clear indicat ...
Tuesday, 18 October 16
COAL PRICES KEPT CLIMBING
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
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- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- White Energy Company Limited
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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