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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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Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
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- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
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