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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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Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
Monday, 30 March 15
WORST IS OVER FOR THE DRY BULK MARKET, BUT THE PAIN WILL REMAIN FOR YEARS TO COME, SAYS BIMCO CHIEF ANALYST - HELLENIC SHIPPING
The current demise of the dry bulk market isn’t one to go away anytime soon. That doesn’t mean that it can’t improve, with all sh ...
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- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Indika Energy - Indonesia
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- The Treasury - Australian Government
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- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
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- Thai Mozambique Logistica
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- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
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- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
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- Energy Link Ltd, New Zealand
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- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
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- Bangladesh Power Developement Board
- ASAPP Information Group - India
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- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
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- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
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- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
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- Tamil Nadu electricity Board
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- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
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- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
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- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
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- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
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- Sakthi Sugars Limited - India
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- Kaltim Prima Coal - Indonesia
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- Indonesian Coal Mining Association
- Wilmar Investment Holdings
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- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
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- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
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- Rio Tinto Coal - Australia
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- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
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- Eastern Coal Council - USA
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- Minerals Council of Australia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
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