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