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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, 29 April 14
NEWCASTLE SHIPPED 3.03 MILLION TONS WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 28 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Tuesday, 29 April 14
Q2 API 8 CFR SOUTH CHINA COAL SWAP LOST 0.29% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 0.29 percent month on month and closed at US$ 75.43 per mt as o ...
Monday, 28 April 14
CHINA LIKELY TO FALL SHORT OF NUCLEAR POWER TARGETS AT 175GW OF CAPACITY BY 2030 - WOOD MACKENZIE
Coal will remain dominant supply at 64% of power mix
Wood Mackenzie forecasts that China will not meet its environmentally-driven, government ...
Sunday, 27 April 14
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK
COALspot.com: The freight market seems to have bottomed out and saw some marginal gains in all segments, said Capt. Reddy of Vistaar Shipping In ...
Friday, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
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