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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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Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
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