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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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Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
Tuesday, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
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- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- The University of Queensland
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
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