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Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
 2016 has been a tough market for dry bulkers and through these difficult earnings, we have seen some of the lowest prices being noted historically for assets across all size segments, says Allied in its latest weekly report.
Things have changed considerably since May when the market started to recover from its loss-making freight levels and created a fair rally in the secondhand market as buyers flocked to take advantage of the low prices, confident that no matter how long it would take for market fortunes to turn and bring back the bullish freight rates of the past, they would have taken on assets at price levels they viewed as highly competitive and would have little to risk. This rally being fast paced and being mainly driven by the low price while facing limited support yet from the freight markets, seemed to have run their course in early September, with both SnP volume and asset prices taking a temporary pause, said George Lazaridis.
Buyers, it seemed, were still concerned at what they could possibly face in the final quarter of the year, being still spooked by the trend they had witnessed in the final part of 2015 and first quarter of 2016. Things seemed to have taken a different route this time around, bringing back the seasonal strength typically seen during the autumn months of the year. At the same time there is now slightly more optimism around as to how well the market will tackle the slack in demand usually noted in and around the Chinese New Year Festivities, while many see a better market balance moving forward, feeling that demand now shows better prospects while the supply of tonnage has been limited fairly well while the orderbook from the second quarter of 2017 and onwards is comparably limited in number. This optimistic view is slowly translating into actual transactions, with recent sales showing a slowly gaining momentum both in terms of volume and prices being seen. There has also been a considerable pick-up in the number of interested parties shopping around and increased interest for inspecting vessels that are circulated in the market, said George Lazaridis, Head of Market Research & Asset Valuations of Allied Shipping.
According to George Lazaridis, the freight market may well be showing signs of heading for its downward corrective phase, with increased possibility that rates may well drop significantly over the next 2 months, but this is unlikely to deter buyers, given that their keen interest is not generated from a belief that freight rates are going to be at extraordinarily high levels within the final weeks of the year nor during the first months of 2017.
There is surely no delusion as to where we stand and no one expects that we are in the clear and it’s all smooth sailing from here on out. What most seem to feel is that for the time being we have seen the worst and that given that freight levels should improve somewhat compared to the levels noted during the course of the past 12 months, prices should therefore start to better reflect this improvement. Buyers, as such, are more likely to offer more for each vessel and feel more confident to outbid their competition even if it drives up prices compared to the levels we are seeing now.
The main thing still holding things back for the moment seems to be the difficulties being faced on the financing front, though given that there are still a number of buyers with “deep pockets”, they are likely to play more aggressively now in order to secure assets before prices increase by too much, while leaving to deal with financing options at a later stage, something which would in any case allow them to find better terms of financing once both freight rates and asset values have improved further.
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Friday, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
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- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
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