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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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Friday, 07 March 14
US PRODUCED 19.4 MMST OF COAL IN PAST 7 DAYS, SAYS EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.4 million short tons (mmst) of coal in ...
Thursday, 06 March 14
PANAMAX MARKET IS STRUGGLING IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
The Handy/Supra market experienced a rate increase in the Pacific. The activity itself is not too big, but spot tonnage is clearing up and ow ...
Wednesday, 05 March 14
THE BIG BULKERS HAVE IN FACT WITNESSED SIGNIFICANT IMPROVEMENTS IN BOTH BASINS
The BDI continues to gain back some of the lost ground, although in reality there isn't a lot to celebrate abou ...
Wednesday, 05 March 14
LEAVE IT TO CAPES TO CHANGE THE DIRECTION OF THE DRY BULK MARKET - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
Leave it to Capes to change the direction of the Dry Bulk market. The big bulkers managed to drag the BDI ...
Tuesday, 04 March 14
AUSTRALIA'S NPC TO SHIP 11.85 MMT OF COAL IN MARCH
COALspot.com: In the week ended 3 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 3.15 m ...
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- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- PTC India Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
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