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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, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- The University of Queensland
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Australian Coal Association
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
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