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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, 22 September 14
CFR SOUTH CHINA COAL SWAPS LOST ON DAY, WEEK AND MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 3.10 (-4.50%) month over month and $ 0.95 PT MT week over ...
Monday, 22 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.35 (+0.69%) day on day and lost US$ 0.30 (-0.58%) per mt week on week. ...
Sunday, 21 September 14
CAPE INDEX LOST 17% W-O-W ; BALTIC DRY PLUNGES 106 POINTS
COALspot.com: This week the freight market softened a bit compared to last week.
BDI fell 8.97% week on week and closed BDI at 1075 points on ...
Friday, 19 September 14
U.S. WEEKLY COAL PRODUCTION RELATIVELY FLAT AT +0.1% - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Friday, 19 September 14
PRICES FOR DRY BULK CARRIERS HAVEN'T CORRECTED ENOUGH, DESPITE LOWER THAN EXPECTED FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lot has been said and written about the looming dry bulk market recovery over the past few months. However, even if this hasn’t been materi ...
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- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
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