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