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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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Sunday, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- VISA Power Limited - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
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