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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, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
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- VISA Power Limited - India
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- Jaiprakash Power Ventures ltd
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- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
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