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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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Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
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- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Economic Council, Georgia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
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