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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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Wednesday, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
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- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
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- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Planning Commission, India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
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- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
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