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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, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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Showing 2326 to 2330 news of total 6871 |
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- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
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