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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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Wednesday, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn c ...
Tuesday, 16 June 15
MERS: POTENTIAL CHARTERPARTY IMPLICATIONS - CLYDE & CO
KNOWLEDGE TO ELEVATE
South Korea's current outbreak of Middle East Respiratory Syndrome (MERS) has been the focus of much international at ...
Tuesday, 16 June 15
Q3 FOB INDONESIA COAL SWAP PRICE DOWN 50 CENTS OVER PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month but declined week over week, this past week.
The Q3 swap was clim ...
Tuesday, 16 June 15
FOB RICHARDS BAY COAL SWAPS: PRICES MOVED UP ON THE WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 1.70 ...
Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
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- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
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