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