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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, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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Showing 2086 to 2090 news of total 6871 |
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- Antam Resourcindo - Indonesia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
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