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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, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
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- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
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