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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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Thursday, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
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- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Australian Coal Association
- Minerals Council of Australia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
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