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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, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- The University of Queensland
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
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