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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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Thursday, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
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- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- PTC India Limited - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
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