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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, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- The University of Queensland
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Australian Coal Association
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Planning Commission, India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
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