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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, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
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- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
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