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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, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
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- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Planning Commission, India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- The University of Queensland
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
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