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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, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
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- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Australian Coal Association
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- The University of Queensland
- Siam City Cement - Thailand
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
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