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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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Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
Monday, 14 November 16
KOMIPO'S SEOCHEON POWER PLANT TO IMPORT 240,000 MT OF SEMI / ANTHRACITE COAL FOR Q1'17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 240K mt of Semi-Anthracite and Anthracite Coal f ...
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Showing 2211 to 2215 news of total 6871 |
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- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
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