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Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. As a result they are looking to get ready ahead of the market's return to healthier levels, which means opening their pockets to acquire some new bulkers at bargain prices, compared to those prevalent in the years prio to the global financial crisis. According to the latest report from shipbroker Intermodal, which seeks to assess what the first quarter of the year has brought to the dry bulk market, "there has been a revival in appetite for dry bulk carriers, across the whole spectrum, from Capesizes down to Handysizes, both newbuildings and second hand.
According to Intermodal's analyst, Christos Mantzios, "the buying momentum has been building up considerably since mid-January where we saw the 2005-built Mitsui supramax (56kdwt) change hands for mid US$ 15's mil, rising up to beginning of March were a comparable 2006 built Mitsui Supra managed a price of US$17 mil. Prices for high quality Japanese built modern tonnage stabilized and edged up driven by the numerous buyers in the market,many of whom are well-respected names in the industry (not only pure bulker players but some with a diversified fleet),who felt that the time to invest in dry bulk tonnage is now.
What’s more is that this vote of confidence in the dry bulk market was further reinforced by the fact that fresh new building contracts have outflanked deliveries so far this year, spearheaded by big names such as John Fredriksen. Same has penned orders for 36 capesizes at various Chinese Shipyards (the majority) albeit at attractive pricing/terms. This number stood at a sharp contrast to the meager US$ 5,000 per day that capesize spot rates had reached at the end of last week" he said.
Mantzios added that "also worth mentioning is the news that March marked the highest volume of NB ordering that we have seen over the past 3 years. Of these new orders,19 have been with ECO characteristics. It’s worth taking into consideration that although new orders maybe spurring,the orderbook to existing fleet ratio has been rapidly decreasing (48 pct for all type of bulkers in 2012, 28 pct in 2013) with capes and panamaxes showing the biggest improvement. Of course it remains to be seen whether owners can restrain themselves from overindulging themselves, as the lures brought about from the attractive NB prices along with new fuel efficient and more technologically advanced designs are hard to resist" he noted.
The shipbroker also noted that "adding to the resurgence in NB activity,the first quarter of the year noticed an unprecedented dash for secondhand tonnage with supply of modern units (up to 7 years of age) slowly being made available for sale (few vessels on the market at the same time) and Sellers toughening their stance,encouraged by the many “serious” buyers all chasing the same vessels. Another good example is the recent reported sale of “Micaela Della Gatta” (82kdwt blt 2006 Tsuneishi) managed to attract high US$ 17 mil after many buyers inspected her in Australia,when the “Ikan Bayan” albeit smaller (75kdwt) and older (2005 blt Sanoyas) had fetched mid US$ 15's mil in the beginning of the year.
Same has been noticed for 15 years old handymax vessels with most notable the recently reported sale of “Ken”(46kdwt 1998 blt Sanoyas) which went for mid US$ 9's mil with June delivery,when “Global Glory”(45kdwt blt 1998 Tsuneishi) fetched mid US$ 7's mil earlier this year. Therefore it can be safely said that good Japanese built second hand tonnage would find a new home once placed in the market (or privately) after serious interest on her and with figures most likely exceeding last done" he said.
He concluded his argument by noting that "on the backdrop of freight rates that find it hard to sustain any positive momentum despite temporary gains caused by port congestions and sudden spikes in available stems,increased scrapping as a counter balance to the strong volume of deliveries and dropping orderbook to fleet ratio,a significant number of market players find it as an opportunity to take advantage of this market and increase both their NB ordering,while also gradually strengthening the second hand market" he said.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 14 June 13
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.20 MILLION SHORT TONS W/E 8 JUNE 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.20 million short tons (mmst) of ...
Thursday, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
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- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
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