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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, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
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