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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, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
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- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- The University of Queensland
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
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