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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, 08 June 15
SHIPPING FLEET GROWTH HAS STARTED TO SLOW DOWN, AS NEWBUILDINGS AMOUNT TO JUST 329 SHIPS OF ALL TYPES SINCE THE START OF 2015 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Challenging market conditions have led to the inevitable reconsideration of ship owners’ priorities. Uncertainty has been the norm over the p ...
Monday, 08 June 15
API 5 FOB NEWCASTLE COAL SWAPS ADVANCED M-O-M AND W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery increased US$ 0.65 per MT (1.44%) month over month to US$ 45.65 per mt. The ...
Monday, 08 June 15
Q3'15 CFR SOUTH CHINA COAL SWAP ADVANCED 3.51% TO $52.48 PMT THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.78 (3.51%) per MT month over month.
A commodity swap is a ...
Sunday, 07 June 15
PANAMAX INDEX ROSE OVER 13% THIS WEEK
COALspot.com: The freight market was up on all segments this past week. The BDI was advanced 3.56% and closed at 610 points. The Cape Index was cli ...
Friday, 05 June 15
U.S PRODUCED 15.1 MMST OF COAL THIS PAST WEEK; LESS 20.7% COMPARED TO SAME PERIOD IN 2014
COALspot.com – United States the second largest coal producer in the world has produced approximately totalled an estimated 15.1 million shor ...
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- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- The University of Queensland
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Minerals Council of Australia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
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