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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, 13 January 15
Q2 CFR SOUTH CHINA COAL SWAP DECLINED 8.66% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined by US$ 3.48 (-5.73%) month over month and US$ 2.35 (-3.94%) week ...
Tuesday, 13 January 15
Q1' 2015 RICHARDS BAY COAL SWAP SLIGHTLY HIGHER THAN Q2 & Q4 2015 SWAPS
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 7.21 ...
Monday, 12 January 15
COAL: LOW PRICES ARE EXPECTED TO DRIVE A SUPPLY-DRIVEN RECOVERY IN THE MEDIUM TERM - SGX
COALspot.com: Thermal coal prices dropped to six-year lows in 2014 driven by persistent oversupply, SGX says in its “ Commodities 2014 - A ye ...
Monday, 12 January 15
FREIGHT MARKET: 2015 FLEET SUPPLY GROWTH IS EXPECTED TO REMAIN SLIGHTLY AHEAD OF CARGO GROWTH - SGX
COALspot.com: The dry bulk freight market was forced to digest a number of negatives in 2014 leading the Baltic Dry Index to fall 66% through the y ...
Monday, 12 January 15
SHIPPING - CHALLENGES AND RESOLUTIONS - EVA TZIMA
Last year has without a doubt been another challenging one both for both our industry and our country. As Greece is currently dominated by election ...
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- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
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