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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, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Australian Coal Association
- The University of Queensland
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Bhatia International Limited - India
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