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