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