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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, 09 July 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
The mini-boom in dry bulker values catapulted ship prices too fast too far over the last one-and-a-half year. The concurrence of historically low p ...
Tuesday, 08 July 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN IN JULY; LOST 1.62%
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia again revised down the coal bench mark price in July. HBA for month of J ...
Tuesday, 08 July 14
ENERGY IN THE MIX - INTERMODAL SHIPBROKERS
With the Tanker freight market having showed much promise this year compared to the performance that had been noted during the previous five, it is ...
Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX
COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell ...
Monday, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
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- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Parliament of New Zealand
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
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