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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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Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
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 ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
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- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Planning Commission, India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
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