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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, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
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