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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, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
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- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
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