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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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Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
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- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Australian Coal Association
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Planning Commission, India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
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