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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, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
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- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
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