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