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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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Thursday, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
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- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Independent Power Producers Association of India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
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