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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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Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
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- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Planning Commission, India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
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