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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, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
Wednesday, 25 May 16
DRY BULK SNP MARKET DISPLAYS SIGNS OF STRENGTH - GEORGE ILIOPOULOS
Only a couple of weeks away from the world’s most prominent maritime event, the market for tankers displays an evident lack of confidence in ...
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Showing 2416 to 2420 news of total 6871 |
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- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Minerals Council of Australia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
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