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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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Monday, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
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- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- The University of Queensland
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
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- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
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- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Planning Commission, India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
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