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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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Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
Monday, 17 November 14
SKULD ISSUES URGENT NOTICE ON BANKRUPTCY OF OW BUNKER A/S
Further to the Association’s advices of 7 November 2014, more information has come to light with respect to the potential impact and scale of ...
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- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- VISA Power Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
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