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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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Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
Friday, 04 July 14
US: WEEKLY COAL PRODUCTION SLIGHTLY UP W-O-W
COALspot.com – United States the world's second largest coal producer, produced approximately 19.4 million short tons (mmst) of coa ...
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- Cement Manufacturers Association - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
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