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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, 17 November 14
INDONESIAN COAL PRICE REFERENCE CONTINUES FREE FALL; SLUMPS TO 69-MONTH LOW
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in November. HBA for t ...
Monday, 17 November 14
API 5 FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT $ 52.75
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery has decreased US$ 1.77 (-3.25%) month over month and US$ 0.02 (-0.04%) day ...
Monday, 17 November 14
SOUTH CHINA COAL SWAP SLIGHTLY INCREASED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 1.73 (-2.67%) month over month and US$ 0.10 (-0.16%) da ...
Sunday, 16 November 14
THE BDI LOST 12.59% WEEK ON WEEK; THE BCI LOST 19.95%
COALspot.com: The BDI fell 12.59 percent to 1256 point week on week on Friday 14 November. All the segments were also most down this week. The cape ...
Friday, 14 November 14
U.S. WEEKLY COAL OUTPUT SLIPS SLIGHTLY WEEK ENDING NOVEMBER 08
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
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- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Australian Coal Association
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- PTC India Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
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