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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, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
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, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
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- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Planning Commission, India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
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