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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, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
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Showing 2166 to 2170 news of total 6871 |
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- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Planning Commission, India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Bhatia International Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
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