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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, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- CNBM International Corporation - China
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- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
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