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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, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
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- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Planning Commission, India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Australian Coal Association
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
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