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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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Wednesday, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Energy Development Corp, Philippines
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- Banpu Public Company Limited - Thailand
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- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
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- Merrill Lynch Commodities Europe
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- Australian Commodity Traders Exchange
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- The University of Queensland
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- Leighton Contractors Pty Ltd - Australia
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- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
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- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
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- Economic Council, Georgia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
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- Salva Resources Pvt Ltd - India
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- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
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- Energy Link Ltd, New Zealand
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- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
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- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
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- Maharashtra Electricity Regulatory Commission - India
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- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
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- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
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- Romanian Commodities Exchange
- GMR Energy Limited - India
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- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Sakthi Sugars Limited - India
- White Energy Company Limited
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- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
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