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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, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
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- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
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