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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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Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
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- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
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