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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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Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
Monday, 16 January 17
WHY THE SOLUTION TO INDIA'S ENERGY CHALLENGE LIES IN COAL POWER PLANTS - BENJAMIN SPORTON
India’s huge development and energy challenges mean there are economic and development arguments for investing in new coal power plants for t ...
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Showing 2146 to 2150 news of total 6871 |
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- Planning Commission, India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
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