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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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Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
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