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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, 19 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
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- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Minerals Council of Australia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Marubeni Corporation - India
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
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