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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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Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
Thursday, 28 January 16
WHAT ARE THE PROSPECTS FOR COAL IN LIGHT OF THE PARIS CLIMATE AGREEMENT? - GERMAN COAL IMPORTERS ASSOCIATION
This depends – says the VDKi – to a very great extent on who you want to believe more, the United Nations or the International Energy A ...
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- Central Electricity Authority - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Australian Coal Association
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- CNBM International Corporation - China
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