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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, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
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- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- White Energy Company Limited
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
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