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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, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Australian Coal Association
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
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