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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, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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Showing 2061 to 2065 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- White Energy Company Limited
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Planning Commission, India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
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