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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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Tuesday, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
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- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
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