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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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Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
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- Bhatia International Limited - India
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
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