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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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Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Parliament of New Zealand
- PTC India Limited - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
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