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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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Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
Tuesday, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
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- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
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