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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, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
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- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
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