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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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Monday, 30 November 15
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
ASSOCARBONI is in favour of an international mechanism to provide financial support to countries building high efficiency low emission coal plants. ...
Monday, 30 November 15
CS 5000 GAR COAL INDEX FIRM D-O-D; WEAK W-O-W
COALspot.com: The 5000 GAR CS (i) coal index up slightly day over day.
According to the system generated index, the CS 50 (5000 GAR coal) was ...
Monday, 30 November 15
CFR SOUTH CHINA COAL SWAPS REMAINED UNCHANGED FROM LAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.50 (9.78%) per ton month over month.
A commodity swap ...
Sunday, 29 November 15
CAPE INDEX SURGES 383 POINTS WEEK OVER WEEK, BOOSTS BALTIC DRY INDEX
COALspot.com: The Baltic Dry Index, a measure of shipping rates, fell to 498 points on 20 November and touched a 30-year low, but on 27 November th ...
Friday, 27 November 15
INDONESIA COAL SWAPS: WEEK ENDING 20 NOVEMBER CLOSED HIGHER COMPARED TO THE PREVIOUS WEEK
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and up on week over week. Coal prices seen slight improvements thi ...
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- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
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- Parliament of New Zealand
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- Commonwealth Bank - Australia
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- Edison Trading Spa - Italy
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- Toyota Tsusho Corporation, Japan
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- Planning Commission, India
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- Australian Coal Association
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
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- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
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- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
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- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
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- Minerals Council of Australia
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- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
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- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
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- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
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- Sindya Power Generating Company Private Ltd
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- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
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- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
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- Chamber of Mines of South Africa
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- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
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- Indonesian Coal Mining Association
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