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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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Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
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- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Planning Commission, India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- The University of Queensland
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
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