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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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Friday, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs ami ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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- ASAPP Information Group - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Planning Commission, India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Deloitte Consulting - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
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