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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, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
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- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
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