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