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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, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been show ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
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- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- The University of Queensland
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
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