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Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past couple of weeks. According to a recent report from shipbroker Allied Shipbroking, “in part, this has been due to things seemingly looking calmer on the geopolitical stage then they did several weeks back, yet this has played a relatively small and unimportant part in the grand scheme of the global dry bulk trade. Over the course of the last couple of weeks we have seen the freight market slowly finding its foothold, and gaining ground well above the lackluster levels it was receiving several weeks back”.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied, “this is not to say that there has been a complete reversal and that we are now finding ourselves in the midst of a bull market, yet it has been enough to inspire optimism amongst many in the market”. Mr Lazaridis noted that “during the first half of the year the intense rebalancing act of the fleet which has served as a purpose in keeping its growth rate in check and in line with the new “status quo” of global economic development has started to “bear fruit”. With the number of vessels available and trading in the market being held at a stead number, seasonal spikes in demand have emerged right in time to give a strong boost to freight rates that had been lingering for too long around or even below OPEX levels”.
Of course, “one might say that seasonality will fade and you will once again be left with a fleet which is much larger than required, yet in reality this seasonality has helped us buy some time as the growth in trade slowly creeps at its slower pace increasing demand to the extent that it be-comes in balance and at some point might even surpass tonnage supply once again (this all depending on if we can keep the fleet growth at a lower rate than growth in trade)”, Lazaridis noted.
He added that “all this having been mentioned before, what strikes of interest now is the way the sale and purchase market in the dry bulk segment has started to react to all of this. For over a month now we have seen prices hold at a level which they were unable to break below, partially due to the fact that there was also strong resistance in the newbuilding market and strong resistance from sellers themselves. With a significant amount of the downward pressure having been alleviate (as earnings are now at much healthier levels and many in the market are starting to hold the belief that we have passed the worst of the storm) the amount of buyer looking to buy at bargain levels has not only risen but has also started to get itchy fingers and become a bit more “trigger-happy” (as if they are in some sort of wild west movie)”.
According to Allied’s analysis, “this has started to become more so the case for some of the modern units especially in the Kamsarmax and Ultramax sectors, both of which are expected to feed of much better over the coming years from the increasing trade from India. In terms of reported transactions, we have yet to see this “eagerness” reflected in pricing. There has been however a stronger demand then what had been seen over previous months and buyers are now looking to be considerably more eager to compete for units that they inspect. This in turn, if supported by the market, should start to emerge in transactions that we will be seeing come to light towards the end of August to early September, however as is always the case and nevertheless if it hap-pens now or further down the line, buyers seeing the emergence of this trend will feel that they might have “missed the market” and depending on the number of buyers that feel the same, we would likely see another round of price hikes self-fed by new rounds of buying interest and over eagerness to compete. Let’s hope this time around some will a higher degree of self-refrain before prices have overshot once again”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
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- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
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