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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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Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
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- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- The University of Queensland
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
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