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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, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
Wednesday, 23 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
In Australia, the world’s largest mining group, BHP Billiton, will beat the iron ore export target of more than 220 million tonnes for 2014. ...
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- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- White Energy Company Limited
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- The University of Queensland
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
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