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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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Thursday, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- The University of Queensland
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
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