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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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Tuesday, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
Friday, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
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- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Bhatia International Limited - India
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