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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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Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
Friday, 14 March 14
US, THE WORLD'S SECOND LARGEST COAL PRODUCER MINED 75.3 MMST OF COAL IN FEBRUARY; DOWN 10.88% M-M
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.7 million short tons (mmst) of coal ...
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- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
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