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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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Monday, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
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- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
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