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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, 30 March 14
FREIGHTS FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK - REDDY
COALspot.com: The freight market dropped drastically and all sectors were affected severely.
The BDI was down by 14.13 pct and closed at 1, ...
Friday, 28 March 14
US PRODUCED APPROXIMATELY 18.9 MMST IN A WEEK - EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Friday, 28 March 14
CHINA'S ENVIRONMENTAL MEASURES WILL NOT CURB GROWTH IN DOMESTIC STEEL PRODUCTION AND SEABORNE IRON ORE - WOOD MACKENZIE SAYS
Steel plants in China have been targeted as a major source of the toxic smog enveloping Beijing and Shanghai. Emergency measures have been impos ...
Thursday, 27 March 14
PANAMAX : SEEMS TO HEAD FURTHER DOWN; CAPESIZE : ANOTHER CHOPPY AND UNPREDICTABLE WEEK - FEARNLEYS AS
Handy
A weaker sentiment for the smaller size as well, with reduced activity in the Atlantic where Owners have to face significantly lower ret ...
Wednesday, 26 March 14
NEWBUILDING ORDERING ACTIVITY PICKS UP PACE ON IMPROVING DRY BULK MARKET CONDITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The gradual improvement of the dry bulk market, as expected for some time now, is urging shipowners to increase their newbuilding ordering activ ...
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- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
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