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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, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
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