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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, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- VISA Power Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
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