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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, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
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- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
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- Orica Mining Services - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
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- Bhoruka Overseas - Indonesia
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- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
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- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- The University of Queensland
- VISA Power Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
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- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- The Treasury - Australian Government
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- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
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