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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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Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
Friday, 07 March 14
INDONESIA TO PRODUCE 421 MMT OF COAL IN 2014
Coalspot.com: Indonesia finally agreed to increased 2014 coal output by as much as 6 percent to 421 million metric tons from its previous plan, a se ...
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- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
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