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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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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
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- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
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