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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, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
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- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
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