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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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Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
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Showing 2296 to 2300 news of total 6871 |
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- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- MS Steel International - UAE
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Economic Council, Georgia
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