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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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Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
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- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
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