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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, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
Friday, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
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