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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, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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Showing 2276 to 2280 news of total 6871 |
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- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Planning Commission, India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Australian Coal Association
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
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