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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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Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
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- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
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