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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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Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
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- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
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