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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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- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- CNBM International Corporation - China
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- The University of Queensland
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
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