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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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Wednesday, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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Showing 2081 to 2085 news of total 6871 |
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- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
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