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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, 11 May 15
CFR SOUTH CHINA COAL SWAP: DECLINED MOM AND WOW
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.46 (-0.90%) per MT month over month and US$ 0.28 (0. ...
Monday, 11 May 15
KOREA MIDLAND POWER INVITES BIDS FOR 140K MT OF 4600 NAR COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued a new tender to buy total 140,000 Metric Tons (MT) of Sub-bitumi ...
Sunday, 10 May 15
FREIGHT RATES TO REMAIN SOFT NEXT WEEK
COALspot.com: The freight market was flat to soft week over week except for the Cape Index which was up 7.32%. Cape index was closed at 616 p ...
Friday, 08 May 15
BUSIEST CAPESIZE DEMOLITION MARKET EVER - BIMCO
The activity on the demolition market is off to a good start in 2015 when looking at dry bulk tonnage.
The dry bulk market has long suffered f ...
Friday, 08 May 15
COAL PRODUCTION IN U.S. UP 3.2% THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
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