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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, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
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- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- White Energy Company Limited
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
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