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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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Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
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- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
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