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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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Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
Monday, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
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Showing 2386 to 2390 news of total 6871 |
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- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- White Energy Company Limited
- The University of Queensland
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
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