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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, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Indogreen Group - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
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