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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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Wednesday, 07 June 17
INDO HBA INDEX SEE LARGEST DROP SINCE FEBRUARY 2017
COALspot.com: Indonesian coal benchmark price decline 9.96% in June, government data showed.
The benchmark price of Indonesian thermal coal de ...
Wednesday, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
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Showing 2031 to 2035 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- PTC India Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
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