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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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Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
Handy
From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Toyota Tsusho Corporation, Japan
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- Petron Corporation, Philippines
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- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
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- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
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- Tamil Nadu electricity Board
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- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
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- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
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- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
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- Power Finance Corporation Ltd., India
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- Africa Commodities Group - South Africa
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- Renaissance Capital - South Africa
- Economic Council, Georgia
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- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- London Commodity Brokers - England
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- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- The University of Queensland
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- Kohat Cement Company Ltd. - Pakistan
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- Pipit Mutiara Jaya. PT, Indonesia
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- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
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- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
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- The State Trading Corporation of India Ltd
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- Ministry of Mines - Canada
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- McConnell Dowell - Australia
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- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
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- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
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- Dalmia Cement Bharat India
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- South Luzon Thermal Energy Corporation
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- PetroVietnam Power Coal Import and Supply Company
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- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
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