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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, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
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