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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, 17 October 14
INTERNATIONAL COAL PRICES ARE AT LOWEST LEVEL; COAL STOCKS AT INDIAN POWER PLANTS ARE ALSO AT LOWEST LEVEL
International coal prices as well as coal freights are falling and reaching to its lowest levels. According to PTI, fuel stockpiles at the thermal ...
Friday, 17 October 14
U.S. COAL PRODUCTION UP BY 3.6% WEEK - ON - WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 17 October 14
DRY BULK SHIPPING'S OUTLOOK NOW SHIFTING TO A LESS PROMISING ONE, SHIP PRICES EXPECTED TO FOLLOW SOON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
China’s and other Asian countries’ return to the dry bulk market last week, didn’t trigger the hoped support towards the dry bulk ...
Thursday, 16 October 14
KOREA MIDLAND POWER TO BUY 490K MT OF LCV COAL FOR 1Q 2015
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 490,000 Metric Tons (MT) of LCV (Sub) Bitumino ...
Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
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- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Trasteel International SA, Italy
- PTC India Limited - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
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