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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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Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
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- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
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