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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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Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
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