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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, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- The University of Queensland
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
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