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