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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, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
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- MS Steel International - UAE
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
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