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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, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Australian Coal Association
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- White Energy Company Limited
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
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