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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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Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
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- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
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