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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, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
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- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
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