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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, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- White Energy Company Limited
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Planning Commission, India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- The University of Queensland
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
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