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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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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
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- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Minerals Council of Australia
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- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
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- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
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- Heidelberg Cement - Germany
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- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Planning Commission, India
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- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Australian Coal Association
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
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- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
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