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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, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
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- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- The University of Queensland
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
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