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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, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
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- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- The University of Queensland
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
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