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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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Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has fell US$ ...
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- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Planning Commission, India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
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