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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
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