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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, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
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