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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, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
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- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
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