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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, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
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- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Minerals Council of Australia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
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