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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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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Chamber of Mines of South Africa
- Planning Commission, India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
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