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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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Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
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- Kumho Petrochemical, South Korea
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
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