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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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Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- White Energy Company Limited
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
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