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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, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- The University of Queensland
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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