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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, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
...
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- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
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