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