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