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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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Wednesday, 14 December 16
INTERNATIONAL TRIBUNAL DISMISSED CHURCHILL MINING'S DAMAGES CLAIM AGAINST REPUBLIC OF INDONESIA
The Directors of Churchill Mining plc advise that, the ICSID Tribunal (“Tribunal”) granted Indonesia’s application to dismiss the ...
Wednesday, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
2020; A year that could be changing shipping. In early November, the International Maritime Organization (IMO) announced that it would set a 0.5% s ...
Tuesday, 13 December 16
COAL DEMAND GROWTH TO STALL AS APPETITE WANES, ACCORDING TO IEA
Growth in global coal demand will stall over the next five years as the appetite for the fuel wanes and other energy sources gain ground, according ...
Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million short ton ...
Monday, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
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- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Australian Coal Association
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
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