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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, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- PTC India Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
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