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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, 18 August 16
CAPESIZE: AN EXTREMELY VOLATILE LAST WEEK, WHERE THE MAIN DRIVER HAS BEEN THE WEST AUSTRALIA MARKET
Supramax
The week has held up. After the most of the world is back at work there is some optimism again in the market. The Far East volume has in ...
Tuesday, 16 August 16
WEEKLY CS42 COAL INDEX SOARS 14.08% YEAR TO DATE AMID HIGH DEMAND
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 2.37% week over week to averaging $42.84 per ton this past week, shows CS (i) C ...
Monday, 15 August 16
DRY BULK: 2017 COULD MARK THE START OF LOWER SHIP DELIVERIES HELPING TONNAGE SUPPLY ISSUES IN THE MARKET, SAYS SHIPOWNER - HELLENIC SHIPPING NEWS
Dry bulk owner Pacific Basin, mainly active in the Handysize and Supramax trades appeared optimistic in its analysis of the prospects of the dry bu ...
Monday, 15 August 16
INDONESIAN COAL PRICES RALLYING; COAL OUTPUT REMAINS FLAT
COALspot.com: Global thermal coal prices, including Indonesian coal prices have risen sharply due to jump in imports from China as it curbs domesti ...
Monday, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
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Showing 2316 to 2320 news of total 6871 |
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- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
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