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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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Thursday, 19 May 16
AUSTRALIAN IRON ORE CARGOES PUSHED UP THE FREIGHT RATES FOR CAPE THIS WEEK - FEARNLEYS
Cape
It has been a big jump in the freight rates for Cape size this week, says Fearnleys in its latest weekly report. All of the Australian iron ...
Thursday, 19 May 16
DISPUTE OVER VAT ON COAL DRAGS ON, CAUSING DOUBLE-BLOW TO MINERS - JP
The dispute over the value-added tax ( VAT ) mechanism between coal miners operating under third-generation contracts and the Finance Ministry&rsqu ...
Wednesday, 18 May 16
DRY BULK OUTLOOK REMAINS GLOOMY SAYS DANISH SHIP FINANCE, AS SHIPPING NEEDS TO RETHINK BUSINESS MODEL - HELLENIC SHIPPING
Our Shipping Market Review – May 2016 is devoted to the fourth industrial revolution. To understand the truly disruptive nature of the fourth ...
Wednesday, 18 May 16
LONG TERM FUNDAMENTALS ARE SLOWLY IMPROVING FOR THE DRY BULK MARKET - INTERMODAL
As we are approaching the end of the first half of the year, there is a number of market participants over at the dry bulk sector that have started ...
Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
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Showing 2426 to 2430 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Australian Coal Association
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
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