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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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Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
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- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
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- Mjunction Services Limited - India
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- Price Waterhouse Coopers - Russia
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- Indonesian Coal Mining Association
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
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- IEA Clean Coal Centre - UK
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- Romanian Commodities Exchange
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- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
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- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
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- Indian Oil Corporation Limited
- Latin American Coal - Colombia
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- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
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- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
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