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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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Wednesday, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
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