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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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Showing 2056 to 2060 news of total 6871 |
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- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
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