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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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Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
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- Tamil Nadu electricity Board
- Interocean Group of Companies - India
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- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Australian Coal Association
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Planning Commission, India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
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