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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, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
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- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
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