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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, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
Monday, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
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- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- The University of Queensland
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- GMR Energy Limited - India
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
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