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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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- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
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- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
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- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- VISA Power Limited - India
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- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
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- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- The University of Queensland
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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