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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, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
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