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