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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, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
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 ...
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- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
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