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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, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
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