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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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Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
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- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Economic Council, Georgia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Orica Mining Services - Indonesia
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