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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, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
Wednesday, 23 April 14
KOMIPO INVITES BIDS FOR LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 90,000 Metric Tons (MT) of low volatile bit ...
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- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Planning Commission, India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
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