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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, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
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