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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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Monday, 07 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAINED 2.09% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 2.09 percent month on month and closed at US$ 75.68 per ...
Sunday, 06 April 14
THE FREIGHT MARKET KEEPS SLIDING
COALspot.com: The freight market continued to drop this week. The BDI (Baltic Dry Index) is a widely followed metric that reflects the overall r ...
Friday, 04 April 14
UNITED STATES COAL OUTPUT UP 5.4% IN PAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.9 million short tons (mmst) of coal i ...
Thursday, 03 April 14
PANAMAX SECTOR IS WATCHING A SEVERE DROP IN RATES - FEARNLEYS
Handy
A further weaker sentiment for the Supras as well in both hemispheres this week with oversupply of tonnage being the major headline. Tra ...
Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
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- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- MS Steel International - UAE
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Parliament of New Zealand
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