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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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Monday, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
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- Eastern Energy - Thailand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
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