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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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Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
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- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Australian Coal Association
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- The University of Queensland
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
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