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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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Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
Friday, 27 January 17
U.S WEEKLY COAL OUTPUT RISES FOR THIRD STRAIGHT WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Wednesday, 25 January 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
Remember that old but classic song called “Destination Unknown”? Well that is where the oil market is heading right now. The song made ...
Tuesday, 24 January 17
MARKET UPDATE - ALLIED
This week at the World Economic Forum in the Swiss resort of Davos we had a historic first via the attendance and speech given by China’s pre ...
Monday, 23 January 17
THE PORT OF NEWCASTLE SHIPPED $AU 15.279 BILLION WORTH OF 161.399 MILLION TONS OF COAL IN 2016
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,453.1 M ...
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- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- The University of Queensland
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
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