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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, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
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- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- The University of Queensland
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- VISA Power Limited - India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
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