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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, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
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- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
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