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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, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
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