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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, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Economic Council, Georgia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
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- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
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- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
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- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- PTC India Limited - India
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- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Planning Commission, India
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- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
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- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
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- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
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- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
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- Iligan Light & Power Inc, Philippines
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
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- Sarangani Energy Corporation, Philippines
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- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
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- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
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- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Medco Energi Mining Internasional
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