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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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Tuesday, 15 September 15
API 5 FOB NEWCASTLE COAL SWAP FOR 4Q' 2015 DELIVERY CLOSED AT $42.71 PER TON ON 11 SEPT, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery declined $0.94 per MT (-2.15%) month over month to US$ 42.71 per mt. The sw ...
Monday, 14 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP DECLINED $1.80 PMT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.62 (3.21 %) per MT month over month.
A commodity ...
Monday, 14 September 15
MOODY'S LOWERS COMMODITY PRICE ASSUMPTIONS ON MACRO, INDUSTRY FACTORS
COALspot.com: Moody's Investors Service has lowered its base metal price assumptions for 2015-17 as slowing growth in China, lower oil prices, ...
Sunday, 13 September 15
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI decreased further by 6.51 per cent or 57 points since last Friday and closed at 818 on 11 September 2015 while the cape index ...
Friday, 11 September 15
SHIPPING MARKETS SHOW MIXED EMOTIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has managed to show marginal improvements over the past few days, with the Capesize segment faring better than smaller dry bulk ...
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- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
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