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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, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
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