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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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Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
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- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
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