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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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Thursday, 27 February 14
NEWCASTLE COAL EXPORTS SLIP 26.68 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 24 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2. ...
Wednesday, 26 February 14
SMALLER SIZE SEGMENTS HOLDING ON TO THEIR LEVELS; CAPES CORRECTING UPWARDS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable+)
The Dry Bulk market continued to improve this past week, on the back of rates for the smaller size s ...
Tuesday, 25 February 14
GBCE, A COAL UPGRADING TECHNOLOGY DEVELOPER, APPOINTS RICHARD BULMAN AS PROJECT DIRECTOR
Press Release: GB Clean Energy Ltd. (GBCE) announced today the appointment of Richard Bulman as Project Director. In this capacity Mr. Bulman ...
Tuesday, 25 February 14
ULTRAMAXES ARE THE 'WEAPON OF CHOICE' FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a busy start in 2014, as the first month of the year was a rather active in terms of second hand vessel purchases and newbuilding orderin ...
Tuesday, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
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- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- PTC India Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
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