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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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Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
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- Gujarat Electricity Regulatory Commission - India
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- Globalindo Alam Lestari - Indonesia
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- Indonesian Coal Mining Association
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- Global Coal Blending Company Limited - Australia
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- San Jose City I Power Corp, Philippines
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
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- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
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- London Commodity Brokers - England
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
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- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
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- OPG Power Generation Pvt Ltd - India
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- Standard Chartered Bank - UAE
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- PTC India Limited - India
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- Medco Energi Mining Internasional
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- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
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- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
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- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
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- Parliament of New Zealand
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