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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, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
Friday, 10 March 17
ESTIMATED U.S. COAL PRODUCTION ALMOST FLAT WEEK ENDED MARCH 4, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Australian Coal Association
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Independent Power Producers Association of India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
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