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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, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- White Energy Company Limited
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Indian Energy Exchange, India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
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