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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, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
Wednesday, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
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Showing 2336 to 2340 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
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