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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, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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