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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, 11 March 14
HOLD HARMLESS CLAUSES ARE NOT ALWAYS MUTUAL! - ITIC
KNOWLEDGE TO ELEVATE
ITIC provides an insurance related contract review service to all of its members. As the leading professional indemnity i ...
Tuesday, 11 March 14
NEWCASTLE SHIPPED 6.98% LESS COAL WEEK ON WEEK
COALspot.com: In the week ended 10 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Tuesday, 11 March 14
INDONESIAN SUB-BITUMINOUS COAL SWAPS CONTINUES TO FALL
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slip again thi ...
Monday, 10 March 14
API 8 CFR SOUTH CHINA COAL SWAPS LOST 4.28 PERCENT MONTH ON MONTH FOR Q2 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 4.28 percent month on month and closed at US$ 73.97 per mt as on Fr ...
Monday, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
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- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Bhatia International Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
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