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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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Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
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