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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, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Parliament of New Zealand
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
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