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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, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
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- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- White Energy Company Limited
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- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
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- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
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- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
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- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
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- Bangladesh Power Developement Board
- The University of Queensland
- McConnell Dowell - Australia
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- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
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- Renaissance Capital - South Africa
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- Sakthi Sugars Limited - India
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- Price Waterhouse Coopers - Russia
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- PowerSource Philippines DevCo
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- Energy Link Ltd, New Zealand
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- Sindya Power Generating Company Private Ltd
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- Ministry of Finance - Indonesia
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- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
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- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
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- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
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- Larsen & Toubro Limited - India
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- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
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- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
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- Star Paper Mills Limited - India
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- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Australian Coal Association
- VISA Power Limited - India
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