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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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Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Monday, 31 March 14
CFR SOUTH CHINA COAL SWAP FOR Q2 14 DELIVERY LOST 1.17% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.17 percent month on month and closed at US$ 75.38 per m ...
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- Mjunction Services Limited - India
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- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
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- Ministry of Transport, Egypt
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- Parliament of New Zealand
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- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
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- Bhatia International Limited - India
- New Zealand Coal & Carbon
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- The University of Queensland
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- AsiaOL BioFuels Corp., Philippines
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- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
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- Petron Corporation, Philippines
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- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
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- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
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- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
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- Heidelberg Cement - Germany
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- Wilmar Investment Holdings
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- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
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- Borneo Indobara - Indonesia
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
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- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
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- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
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- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
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- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
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