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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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Friday, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
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- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
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- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
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- Kobexindo Tractors - Indoneisa
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- Sarangani Energy Corporation, Philippines
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- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
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- Renaissance Capital - South Africa
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- Parliament of New Zealand
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- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Minerals Council of Australia
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- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
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- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
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- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
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- Anglo American - United Kingdom
- ICICI Bank Limited - India
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- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- White Energy Company Limited
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- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
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- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
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- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
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- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Marubeni Corporation - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
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- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
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- Chamber of Mines of South Africa
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Australian Coal Association
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- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
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- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
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- PNOC Exploration Corporation - Philippines
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