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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, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would h ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
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- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Australian Coal Association
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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