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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, 13 March 14
HANDY: THE FAR EAST MARKET IS IN AN UPWARD TREND - FEARNRESEARCH
Handy
Atlantic is a bit under pressure for spot tonnage, but the underlying sentiment is positive for the short medium future. 2-3 legs are do ...
Thursday, 13 March 14
MARKET INSIGHT - CHRISTOPHER T. WHITTY
By Christopher T. Whitty
Marketing Manager
Cotzias Intermodal Shipping Inc.
During the last year we have noticed that a fair number of ...
Wednesday, 12 March 14
ADARO ENERGY IMPROVES EFFICIENCY AND GENERATED STRONG EBITDA IN 2013
COALspot.com: PT Adaro Energy Tbk, Indonesia's single largest coal miner posted revenue of US$ 3.28 billion and cost of revenue of US$ 2.54 ...
Wednesday, 12 March 14
DGOMC OF INDONESIA REVISED DOWN THE BENCHMARK PRICES FOR COAL BY 4.26% IN MARCH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down the government's declared coal bench mark price ...
Wednesday, 12 March 14
DRY BULK VESSELS STILL THE CREAM OF THE CROP FOR SHIP OWNERS
Dry bulk carriers have remained the most popular vessel type among ship owners as proven by the sheer number of second hand vessel sales and new ...
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- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
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- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
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- CNBM International Corporation - China
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
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- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
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- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- The University of Queensland
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
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