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