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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, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
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- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Planning Commission, India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
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