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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, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
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- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
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- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
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- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
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- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
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- Aditya Birla Group - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
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- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
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- The Treasury - Australian Government
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- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
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- PetroVietnam Power Coal Import and Supply Company
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
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- Power Finance Corporation Ltd., India
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- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Marubeni Corporation - India
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- Standard Chartered Bank - UAE
- Planning Commission, India
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- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
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- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
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- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
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- Gujarat Mineral Development Corp Ltd - India
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