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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, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
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- Agrawal Coal Company - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Bhatia International Limited - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
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