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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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Tuesday, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
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