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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, 24 May 16
WEEKLY CS COAL INDICES NEGATIVE FOR ALL TYPES OF COAL EXCEPT 3800 GAR COAL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was down 0.10 percent week over week to averaging $38.90 per ton this past week, sho ...
Monday, 23 May 16
A PERFECT STORM FOR INDONESIAN STEAM COAL EXPORTS - CLARKSON RESEARCH
Indonesia is the world’s leading steam coal exporter, accounting for over 40% of global seaborne steam coal exports since 2010. However in 20 ...
Monday, 23 May 16
THE PANAMAX INDEX WAS UP 17 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this week.
The freight market was firm and all ...
Friday, 20 May 16
SHIPBUILDING CONTRACTS: CAN I CANCEL? SHOULD I CANCEL? - THE SHIPOWNER CLUB
KNOWLEDGE TO ELEVATE
There are many circumstances in which a buyer of a new-build vessel might want to terminate or cancel their contract with ...
Friday, 20 May 16
U.S COAL PRODUCTION FOR THE WEEK ENDED 14 MAY TOTALED 11.4 MMST; UP 3.8% W/W
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.4 million short tons (mm ...
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Showing 2421 to 2425 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
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