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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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Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
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- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Economic Council, Georgia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
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