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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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Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
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- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
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