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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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Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
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- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
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