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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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Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
Thursday, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
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- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Marubeni Corporation - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
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