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Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past couple of weeks. According to a recent report from shipbroker Allied Shipbroking, “in part, this has been due to things seemingly looking calmer on the geopolitical stage then they did several weeks back, yet this has played a relatively small and unimportant part in the grand scheme of the global dry bulk trade. Over the course of the last couple of weeks we have seen the freight market slowly finding its foothold, and gaining ground well above the lackluster levels it was receiving several weeks back”.
According to Mr. George Lazaridis, Head of Market Research & Asset Valuations with Allied, “this is not to say that there has been a complete reversal and that we are now finding ourselves in the midst of a bull market, yet it has been enough to inspire optimism amongst many in the market”. Mr Lazaridis noted that “during the first half of the year the intense rebalancing act of the fleet which has served as a purpose in keeping its growth rate in check and in line with the new “status quo” of global economic development has started to “bear fruit”. With the number of vessels available and trading in the market being held at a stead number, seasonal spikes in demand have emerged right in time to give a strong boost to freight rates that had been lingering for too long around or even below OPEX levels”.
Of course, “one might say that seasonality will fade and you will once again be left with a fleet which is much larger than required, yet in reality this seasonality has helped us buy some time as the growth in trade slowly creeps at its slower pace increasing demand to the extent that it be-comes in balance and at some point might even surpass tonnage supply once again (this all depending on if we can keep the fleet growth at a lower rate than growth in trade)”, Lazaridis noted.
He added that “all this having been mentioned before, what strikes of interest now is the way the sale and purchase market in the dry bulk segment has started to react to all of this. For over a month now we have seen prices hold at a level which they were unable to break below, partially due to the fact that there was also strong resistance in the newbuilding market and strong resistance from sellers themselves. With a significant amount of the downward pressure having been alleviate (as earnings are now at much healthier levels and many in the market are starting to hold the belief that we have passed the worst of the storm) the amount of buyer looking to buy at bargain levels has not only risen but has also started to get itchy fingers and become a bit more “trigger-happy” (as if they are in some sort of wild west movie)”.
According to Allied’s analysis, “this has started to become more so the case for some of the modern units especially in the Kamsarmax and Ultramax sectors, both of which are expected to feed of much better over the coming years from the increasing trade from India. In terms of reported transactions, we have yet to see this “eagerness” reflected in pricing. There has been however a stronger demand then what had been seen over previous months and buyers are now looking to be considerably more eager to compete for units that they inspect. This in turn, if supported by the market, should start to emerge in transactions that we will be seeing come to light towards the end of August to early September, however as is always the case and nevertheless if it hap-pens now or further down the line, buyers seeing the emergence of this trend will feel that they might have “missed the market” and depending on the number of buyers that feel the same, we would likely see another round of price hikes self-fed by new rounds of buying interest and over eagerness to compete. Let’s hope this time around some will a higher degree of self-refrain before prices have overshot once again”, Lazaridis concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
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- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- White Energy Company Limited
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
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