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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, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
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