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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, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
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- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
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- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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