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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, 07 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.96 PMT; DOWN 8.40% M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has declined U ...
Monday, 06 April 15
INDONESIA'S HBA FIXED AT US$ 64.48 PMT FOR APRIL DELIVERY; DOWN 4.84% M-M
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal benchmark prices to US$ 64.48 per MT in Apr ...
Monday, 06 April 15
FOB NEWCASTLE COAL SWAP DECLINED 12% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 6.23 per MT (-12%) month over month and US$ 0.86 (-1.85%) week ...
Monday, 06 April 15
CFR SOUTH CHINA COAL SWAP FALL CONTINUES
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.96 (-10.37%) per MT month over month and US$ 0.98 (- ...
Sunday, 05 April 15
FREIGHT RATES UNDER PRESSURE WEEK OVER WEEK
COALspot.com: The Indices fell on all segments and the market seemed to soften this week.
The BDI was almost lost 1.34% week over week and clo ...
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- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
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