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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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Thursday, 20 April 17
CHINA'S IMPORT OF IRON ORE TO PROPEL DRY BULK SHIPPING DEMAND IN 2017 - PETER SAND
China's import of iron ore will continue to be a key driver for the demand growth in 2017 for the dry bulk shipping industry, alongside shippin ...
Monday, 17 April 17
THE PANAMAX INDEX (BPI) ROSE (12.89%) WEEK OVER WEEK
COALspot.com: The Freight market was firm, week over a week as all segments show a positive upward trend this past week.
The Baltic Exchange, ...
Monday, 17 April 17
U.S. WEEKLY COAL OUTPUT FELL 5% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 13 April 17
OPEC OVER-DELIVERS ON OIL CUTS, BUT SEES RIVALS' OUTPUT RISING
Crude Oil Price Movements
The OPEC Reference Basket averaged $50.32/b in March, representing a decline of 5.7% from the previous month. Crude fut ...
Wednesday, 12 April 17
THE PORT OF NEWCASTLE SHIPPED 13.791 MILLION TONS OF COAL IN MARCH 2017
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,688.5 ...
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Showing 2071 to 2075 news of total 6871 |
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- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- The University of Queensland
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
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