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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, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas re ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
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- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
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