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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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Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
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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- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Planning Commission, India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- The University of Queensland
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
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