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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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Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
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Showing 2296 to 2300 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
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