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