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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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Wednesday, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
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- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- PTC India Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Australian Coal Association
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
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