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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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Friday, 30 January 15
CAN BULKER CONVERSIONS SPOIL THE TANKER MARKET'S PARTY? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Oversupply of tonnage has always been in the back of the head of ship owners when it comes to taking advantage of favorable market conditions. As s ...
Thursday, 29 January 15
CHINA ENERGY DEMAND MUST BE REVIEWED DUE TO FUNDAMENTAL ECONOMIC CHANGES - WOOD MACKENZIE
New patterns emerging as energy demand growth decoupled significantly from GDP growth for the first time in 2014
Wood Mackenzie says 2014 was ...
Thursday, 29 January 15
CAPE MARKET IS STILL STRUGGLING WITH LOW DEMAND AND LOW COMMODITY PRICES
Handy
Supramax rates are heading south with slipping rates all across the block. USG activity is slow with mid-week levels in the mid 8.000s, Fea ...
Wednesday, 28 January 15
MARKET INSIGHT - STELIOS KOLLINTZAS
With most traders having returned to action from year end festivities, we have already seen signs of activity in the specialized product markets. L ...
Wednesday, 28 January 15
CAPES CONTINUED THEIR UPWARD MOVEMENT LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market displayed a mirror performance of that of the week prior, with the Capesize market correcting further upwards and ...
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- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- PTC India Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
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