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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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Friday, 10 June 16
INDONESIAN 6322 GAR COAL PRICE REFERENCE RISES TO $51.81 A TON
COALspot.com: The Indonesia Coal Benchmark Price increased in June 2016.
The Director General of Mineral and Coal of Indonesia, the regulator ...
Friday, 10 June 16
WEEKLY U.S. COAL PRODUCTION TOTALED AN ESTIMATED 12 MMST IN THE WEEK ENDED JUNE 4, UP 4% W/W - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 12 million short tons (mmst ...
Wednesday, 08 June 16
BPI ACHIEVES FINANCIAL CLOSE FOR ITS 2000 MW POWER PROJECT IN CENTRAL JAVA
COALspot.com: PT Bhimasena Power Indonesia (BPI) on June 6th, 2016 Achieves financial close for its 2x1,000 MW power project in Batang Regency, Cen ...
Wednesday, 08 June 16
U.S COAL IMPORTS ARE PROJECTED TO BE 12 MMST IN 2016 AND 11 MMST IN 2017 - EIA
Coal Supply
U.S. coal production in May was 50 million short tons (MMst), a 4 MMst (10%) increase from the previous month but 19 MMst (28%) lower ...
Wednesday, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
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- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
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