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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, 16 May 16
THE FREIGHT MARKET WAS WEAK AND ALL SEGMENTS EXCEPT PANAMAX WERE DOWN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
Friday, 13 May 16
COAL CARGOES - SOME RECENT DEVELOPMENTS: SWEDISH CLUB
KNOWLEDGE TO ELEVATE
Indonesia continues to be amongst the world’s major exporters of coal, some 426Mt being traded in 2013 mostly to In ...
Friday, 13 May 16
US WEEKLY COAL PRODUCTION IS RUNNING 33% BELOW THE SAME PERIOD IN 2015 - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.9 million short tons (mm ...
Friday, 13 May 16
DRY BULK SHIPPING MARKET RECOVERY WILL BE A LONG, HARD-FOUGHT BATTLE - HELLENIC SHIPPING NEWS
Anyone who expects a strong rally in dry bulk market rates to end the industry’s downturn will be bitterly disappointed. By contrast – ...
Wednesday, 11 May 16
U.S. FORECAST COAL PRODUCTION IS EXPECTED TO DECLINED BY 150 MMST IN 2016; THE LARGEST DECLINE SINCE 1949 - EIA
COALspot.com: EIA estimates that U.S. coal production in April was 46 million short tons (MMst), a 6 MMst (12%) decrease from the previous month an ...
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- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Planning Commission, India
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- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Australian Coal Association
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Renaissance Capital - South Africa
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