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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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Friday, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
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- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Australian Coal Association
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
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