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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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Wednesday, 03 September 14
CFR S.CHINA COAL SWAP FOR JAN 2015 DELIVERY CLOSED AT $ 68.30 PMT; DOWN 2.43% W-O-W
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.95 (-1.39%) day on day and US$ 1.40 (-2.03%) week on wee ...
Tuesday, 02 September 14
BERAU COAL HAS AWARDED A CONTRACT EXTENSION TO BUMA FOR 647 MLN BCM OVERBURDEN REMOVAL
COALspot.com: PT Delta Dunia Makmur Tbk (“DOID”) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama (&l ...
Monday, 01 September 14
GLOBALCOAL WELCOMES TWO NEW MARKET MEMBERS
COALspot.com: globalCOAL® announced today that two Market Members have joined its trading community. Both new Market Members are from the India ...
Sunday, 31 August 14
COAL FREIGHT RATES INTO INDIA FROM INDONESIA FIRM
COALspot.com: The freight market continued to firm this week. BDI up 5.42 percent week ended 29 August and closed at 1147 points while the Ca ...
Saturday, 30 August 14
INDIAN GOVERNMENT SHOULD TAKE NOTICE: THERMAL COAL IMPORT PRICES EXTREMELY LOW - COMMODORE RESEARCH
COALspot.com: Both Indonesian and Australian thermal coal prices are at the lowest levels seen this decade, with Indonesia's monthly benchmark ...
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- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Australian Coal Association
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
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