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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, 25 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
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- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- The University of Queensland
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
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