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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, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
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- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- The University of Queensland
- MS Steel International - UAE
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Xindia Steels Limited - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
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