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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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Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
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- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- MS Steel International - UAE
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Economic Council, Georgia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Interocean Group of Companies - India
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