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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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Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
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- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
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