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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, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
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- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Australian Coal Association
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
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