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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, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Australian Coal Association
- PTC India Limited - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
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