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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, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
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