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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, 26 March 14
LARGE AMOUNT OF VESSELS CHARTERED TO HAUL IRON ORE CARGOES TO CHINESE BUYERS THIS WEEK - COMMODORE RESEARCH & CONSULTANCY
COALspot.com: Through the first three days of this week, 18 dry bulk vessels have been chartered to haul spot iron ore cargoes to Chinese buyers ...
Wednesday, 26 March 14
JOIN IN THE CLEAN COAL CASE STUDY WITH SINOPEC!
Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite Experts ...
Tuesday, 25 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR Q2 DELIVERY CLOSED $ 57.40 PMT W/E 21 MARCH 2014
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 25 March 14
NEWCASTLE COAL EXPORTS JUMP 29.16% TO 2.79 MMT WEEK ON WEEK
COALspot.com: In the week ended 24 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2.79 ...
Monday, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
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- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Australian Coal Association
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
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