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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, 20 February 14
SUPRAMAX: IN ASIA IS IMPROVING SIGNIFICANTLY AND TURNED FROM APS TO DOP MARKET
Handy
The activity is back in the market after Chinese holidays. Supramax in Asia is improving significantly and turned from APS to DOP market. We ...
Wednesday, 19 February 14
NEWCASTLE PORT SHIPPED 30% MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 17 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 18 February 14
PERUVIAN HIGH COMMISSIONER FOR MINING AFFAIRS WILL BE KEY NOTE SPEAKER AT THE COLOMBIAN COAL CONFERENCE 2014
Press Release: The High Commissioner for Mining Affairs in the Presidency of the Peruvian Council of Ministers, General (R) Daniel Urresti Elera, ha ...
Monday, 17 February 14
US COAL PRODUCTION IN 2013 FELL TO ITS LOWEST LEVEL IN 20 YEARS
COALspot.com: U.S coal production for 2013 totaled an estimated 996 million short tons (MMst), 21 MMst (2%) lower than in 2012. It is the first time ...
Monday, 17 February 14
Q1 2015 COAL SWAPS CLOSED $ 2.21 HIGHER THAN Q2 2014 SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 delivery lost 3.16 percent month on month and closed at US$ 76.12 per mt as o ...
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- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bhatia International Limited - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
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