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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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Sunday, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Planning Commission, India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- The University of Queensland
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
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