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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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Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
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 ...
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- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
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- The State Trading Corporation of India Ltd
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- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
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- Directorate Of Revenue Intelligence - India
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- Independent Power Producers Association of India
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- White Energy Company Limited
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- Renaissance Capital - South Africa
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- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
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- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
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- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
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- Sical Logistics Limited - India
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- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- PTC India Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
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- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
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- Samtan Co., Ltd - South Korea
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