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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, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
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