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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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Monday, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
Friday, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
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- India Bulls Power Limited - India
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- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
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- White Energy Company Limited
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- Malabar Cements Ltd - India
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- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
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- Timah Investasi Mineral - Indoneisa
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- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Independent Power Producers Association of India
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- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
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- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
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- Australian Coal Association
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- The University of Queensland
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- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
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- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
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- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
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- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
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- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Trasteel International SA, Italy
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- GAC Shipping (India) Pvt Ltd
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- Kaltim Prima Coal - Indonesia
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- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
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- Ministry of Transport, Egypt
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