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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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Tuesday, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
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 fell ...
Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
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- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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