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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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Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
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- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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