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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, 05 December 14
CHINESE SPECIAL STEEL MAKERS' RISK PROFILES MORE RESILIENT - FITCH
Fitch Ratings says the risk profiles of Chinese makers of special steel, especially high-end products, are more like those of manufacturers and mor ...
Friday, 05 December 14
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED AROUND 905 MMST - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19 million short tons (mmst) of coal i ...
Thursday, 04 December 14
CAPE MARKET IS DEVELOPING FROM BAD TO WORSE
Handy
The Atlantic market has been pretty stable and balanced this week, Fearnleys AS says in its latest weekly report.
The broker furt ...
Thursday, 04 December 14
DRY BULK MARKET; ANOTHER DISAPPOINTING WEEK
COALspot.com: For those who have been hoping to see alignment of freight direction across the Dry Bulk market, this must have been another disappoi ...
Wednesday, 03 December 14
PROGRESSING SMELTER PROJECTS IN INDONESIA
Press Release: Indonesia’s ban on ‘raw mineral export’ that was designed to encouraging downstream investment in mineral processi ...
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- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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