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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, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
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- The University of Queensland
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- PTC India Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Planning Commission, India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
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