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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, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
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- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
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- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
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- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
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- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
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- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Wilmar Investment Holdings
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- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
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- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
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