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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, 01 September 15
FOB RICHARDS BAY COAL SWAPS STILL SLIDING; Q2'16 DELIVERY LOST AROUND 6 PERCENT M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 gain week over week but declined month over month.
The 4Q swap was dow ...
Monday, 31 August 15
API 5 FOB NEWCASTLE COAL SWAP GAINS WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.85 per MT (-4.23%) month over month to US$ 41.87 per mt. The swap ...
Monday, 31 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP ENDS DOWN MORE THAN 4 PERCENT MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.91 (3.78%) per MT month over month.
A commodity ...
Sunday, 30 August 15
THE DRY BULK MARKET UNDOUBTEDLY REMAINS WEAK & VOLATILE THIS WEEK
COALspot.com: The BDI slipped further down this week, moving closer to 900 level. This week’s BDI falls 9.15 pct and closed at 903 points. Wh ...
Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
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- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
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- Indonesian Coal Mining Association
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- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
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- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
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- Bhoruka Overseas - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
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- Standard Chartered Bank - UAE
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- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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- Gujarat Electricity Regulatory Commission - India
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- White Energy Company Limited
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- Minerals Council of Australia
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- Eastern Coal Council - USA
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- Ceylon Electricity Board - Sri Lanka
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- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
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- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
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- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
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- Globalindo Alam Lestari - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
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- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
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