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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, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- Georgia Ports Authority, United States
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
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