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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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Saturday, 27 September 14
MORE COAL MINERS AGREE TO AMEND CONTRACTS - THE JAKARTA POST
The Energy and Mineral Resources Ministry is in a rush to beat a deadline for the conclusion of numerous memorandums of understanding (MoUs) with t ...
Friday, 26 September 14
INDIA SUPREME COURT RULING TO HIT STEEL, UTILITY EARNINGS, SAYS FITCH
COALspot.com: The 24 September Supreme Court of India (SCI) decision to cancel almost every coal block allocation since 1993 will have a negative f ...
Friday, 26 September 14
U.S WEEKLY COAL PRODUCTION FELL 1.8% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.80 million short tons (mmst) of c ...
Friday, 26 September 14
ORACLE SIGNS EPC FRAMEWORK AGREEMENT WITH SEPCO FOR COAL MINE AND POWER PLANT IN PAKISTAN
COALspot.com: Oracle Coalfields PLC, the UK developer of a lignite coal mine and power plant in the south-eastern Sindh Province, Pakistan, has ann ...
Friday, 26 September 14
NEWCASTLMAXES ARE THE MOST SOUGHT AFTER VESSELS BY SHIP OWNERS TODAY SAYS VESSELS VALUE
KNOWLEDGE TO ELEVATE
Determining a ship’s fair value can be a very tricky business, especially when you’re the one paying. As such ...
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- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- The University of Queensland
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Australian Coal Association
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
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