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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, 13 November 15
DRY BULK, IT IS HARD TO MAINTAIN AN OPTIMISTIC VIEW FOR THE NEXT COUPLE OF MONTHS - INTERMODAL
COALspot.com: The dry bulk owners looking for cover remained under pressure for size segments across the board. With Capes closing off the week as ...
Friday, 13 November 15
WEEKLY US COAL PRODUCTION DECLINES TO 16.5 MMST; SLIDE 14.9% Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Thursday, 12 November 15
FOREIGN COAL MINE ACQUISITION - STRATEGY VERSUS OPPORTUNITY FOR INDIAN UTILITIES - DIPESH DIPU
The acquisition market for thermal coal assets abroad is dull. Sellers of all hues are in the market; some are actively scouting for buyers while o ...
Thursday, 12 November 15
PORT OF NEWCASTLE'S COAL EXPORT VOLUME UP IN OCTOBER 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.254 billio ...
Wednesday, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
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- Tamil Nadu electricity Board
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- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
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- Planning Commission, India
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- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
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- London Commodity Brokers - England
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- Baramulti Group, Indonesia
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- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
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- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
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- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
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- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
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- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
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