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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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Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
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- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Economic Council, Georgia
- GMR Energy Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
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