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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, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
Wednesday, 08 October 14
OIL COULD FALL TO USD80 BEFORE SHALE SUPPLY RESPONSE - FITCH
COALspot.com: Brent oil could fall as low as USD80 a barrel before triggering a self-correcting supply response with shale-oil drillers cutting inv ...
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- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
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- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
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- Minerals Council of Australia
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- Latin American Coal - Colombia
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- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
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- Port Waratah Coal Services - Australia
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- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
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- GVK Power & Infra Limited - India
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- SMC Global Power, Philippines
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- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
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- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
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- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
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- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
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- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
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- White Energy Company Limited
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- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
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- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
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- McConnell Dowell - Australia
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- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
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