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Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
 Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from shipbroker Allied Shipbroking, “mixed messages coming out of the secondhand dry bulk market this past week, with buyers and sellers seemingly split into two distinct camps, as the freight market gains momentum though still lacks to reach freight levels that can be considered long-term sustainable against the average OPEX levels noted in the market. On the back of all this, rumors had started to circulate that we had begun to see deals being concluded at slightly firmer prices compared to similar tonnage concluded a few weeks prior”.
According to Mr. George Lazaridis, Allied’s Head of Market Research & Asset Valuations, “the truth is that there has been increased resistance noted amongst sellers these past couple of weeks, while some buyers are expressing the opinion that the market is starting to turn, something that can to some extent be reflected by the fact that there has been a considerably increase in the number of active buyers taking on vessel inspections, a fact that on its own could drive prices up once again as competition amongst them heightens. Expectations have long been that we would see a recovery in secondhand asset prices long before earnings reach any sense of “lucrative”. This has mainly been in part due to the fact that given prices have reached well below anything seen during the past 25 years or more, there have been many in angst to take up buying options, feeling that there is a significant potential in asset price gains to be made once the market rebalances. The buy low – sell high strategy has always been a major part of the strategy composed by most Greek buyers as well as prominent shipowners around the world. As such there have been a growing number of suiters waiting in the background hoping to strike at the point where they believe would be the absolute bottoming of the market”.
Allied’s analyst also noted that “this distressed asset purchasing strategy has occurred several times in the past, sometimes to disappointing result (as an example one may look at the buying spree that took place during 2013), with even prominent distressed debt investors misjudging the downturn and as a consequence acting on prices which would later prove to be at considerable underestimates as to how low freight rates and prices could go. Sure it seems now as if prices and rates have been squeezed to their lowest if not fairly close to their lowest possible levels and even so, the given the past mismatched timing and more dire freight market conditions has led most buyers to take a more cautionary view up until now. It does feel however that we may well be close to the turning point in buyers sentiment, while it will only take a few in number to hastily pull the trigger in outbidding their competition with considerable premiums on last done, to eventual drive the rest of the buyers currently in the market into a buying frenzy and driving a rally (even a small one) out of their fear that they may have “missed the market buying opportunity” and have been left behind”.
According to Lazaridis, “there are other factors as well that will surely play their role during the current market. Recent trends in FOREX movements have supported the resistance provided by sellers at these price levels, while given the fact that earnings have shown a fairly good improvement over the past couple of weeks most sellers will be entering any negotiation with a completely different sentiment as to what their counterparts had done a month back. As a final note, it will be interesting to see if this upward pressure materialises in full and if it does, how well it will be able to feed a positive upward momentum under low freight market conditions and more specifically during courses in the year which are typically seasonal lows in the freight market, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 30 May 16
BCI ENDING AT 830 POINTS, DOWN 4.6 PER CENT W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week. The freight market was weak this past ...
Friday, 27 May 16
PET-COKE IMPORTS TO FACE PRESSURE IN INDIA
COALspot.com: An Indian environmental activist moved the National Green Tribunal seeking ban on the use of all forms of petroleum coke, also called ...
Friday, 27 May 16
US COAL PRODUCTION ROSE 2.9% WOW, ACCORDING TO EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.7 million short tons (mm ...
Thursday, 26 May 16
GIANT ORE CARRIERS SET TO PLAY A BIGGER ROLE IN THE GLOBAL SHIPPING FLEET: CHINA EMBRACES VALEMAXES - RICHARD SCOTT
Another phase of the giant ships era is approaching. Chinese shipowners placed orders recently for 30 huge ‘valemax’ ore carriers. Thes ...
Wednesday, 25 May 16
MEDIATION AS A WAY TO RESOLVE DISPUTES IN THE SHIPPING INDUSTRY - LANA JACOBS
KNOWLEDGE TO ELEVATE
The shipping market is currently experiencing a serious recession with the Baltic Dry Index and Baltic Capesize Index bot ...
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Showing 2416 to 2420 news of total 6871 |
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- Carbofer General Trading SA - India
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- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
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- Salva Resources Pvt Ltd - India
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- London Commodity Brokers - England
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- Sojitz Corporation - Japan
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- Pipit Mutiara Jaya. PT, Indonesia
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- IEA Clean Coal Centre - UK
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- Australian Coal Association
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- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
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- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
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- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
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- Economic Council, Georgia
- Parliament of New Zealand
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- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- MS Steel International - UAE
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
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- Romanian Commodities Exchange
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- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
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- Singapore Mercantile Exchange
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- Merrill Lynch Commodities Europe
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- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
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- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
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- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
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- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
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- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
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- Eastern Coal Council - USA
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