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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, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
Thursday, 27 February 14
SHIPPING LOANS WORTH $5 BILLION HAVE CHANGED HANDS OVER THE PAST YEAR, AS FUNDS INVEST IN SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Funds investing in shipping has been the "talk of the town" over the past couple of years, as institutional investors, private equity and ...
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- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
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