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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, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
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- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- The University of Queensland
- Malabar Cements Ltd - India
- White Energy Company Limited
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
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