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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, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Australian Coal Association
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
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