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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, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
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- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- VISA Power Limited - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Minerals Council of Australia
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