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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, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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Showing 2036 to 2040 news of total 6871 |
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- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- The University of Queensland
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Australian Coal Association
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
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