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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, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
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- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
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