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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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Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
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Showing 2436 to 2440 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Planning Commission, India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
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