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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, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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Showing 2051 to 2055 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
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