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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, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
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- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
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- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
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- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
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- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
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- Toyota Tsusho Corporation, Japan
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- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
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- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
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- White Energy Company Limited
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- Anglo American - United Kingdom
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- Tamil Nadu electricity Board
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- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- Planning Commission, India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
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