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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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Monday, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- VISA Power Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
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