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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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Friday, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
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