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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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Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
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- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
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