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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, 25 January 15
PANAMAX FREIGHT RATES STILL FALLING
COALspot.com: The BDI was slightly down this week to 720 points. The BDI lost 2.83 pct week on week.
The cape index continued its upward trend ...
Friday, 23 January 15
U.S. WEEKLY COAL PRODUCTION FOR WEEK ENDING JAN. 17 UP 2.5%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.4 million short tons (mmst) of coal ...
Thursday, 22 January 15
PANAMAX: A SOFTER TONE AND OVERALL A SLUGGISH MARKET - FEARNLEYS
Handy
The handy and supra market has experienced yet another week with slow activity and softening rates in both hemispheres, broker Fearnleys AS ...
Thursday, 22 January 15
BUMI RESOURCES POSTS NET INCOME OF $13.3 MILLION 9M-2014
COALspot.com: Bumi Resources, Indonesia’s largest coal miner, reported today that, the company has recorded a net income of $13.3 million for ...
Wednesday, 21 January 15
PANAMAX MARKET MOVED SIDEWAYS OVERALL LAST WEEK - INTERMODAL
COALspot.com: The positive sentiment in which the week prior ended carried on through-out last week as well, the end of which marked the first posi ...
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- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- London Commodity Brokers - England
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