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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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Monday, 05 January 15
FIVE ENERGY SURPRISES FOR 2015: THE POSSIBLE AND THE IMPROBABLE - KURT COBB
The coming year is likely to be as full of surprises in the field of energy as 2014 was. We just don't know which surprises! I am not predictin ...
Monday, 05 January 15
THE SHIPPING MARKET IN 2014 AND LOOKING FORWARD - BIMCO
2014 started with plenty of optimism for a considerably better global economy and an improved shipping market. Things turned out somewhat different ...
Monday, 05 January 15
API 5 FOB NEWCASTLE COAL SWAP FOR Q1'15 DELIVERY CLOSED US$ 0.45 HIGHER COMPARED TO Q2'15 CLOSING
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 0.60 per MT (-1.15%) month over month and gained US$ 0.02 (+0.04%) ...
Sunday, 04 January 15
BALTIC DRY INDEX CONTINUES ITS DECLINE IN 2015
Wish you all a very Happy New Year 2015. The last report was dated 19th Dec 2014 and due to Christmas and new year holidays no reports were publish ...
Saturday, 03 January 15
U.S WEEKLY COAL PRODUCTION FELL 11.2% TO 17.6 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
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- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- The University of Queensland
- Marubeni Corporation - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Deloitte Consulting - India
- Australian Coal Association
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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