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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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- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- The University of Queensland
- Australian Coal Association
- Planning Commission, India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
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