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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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Sunday, 09 June 13
IRON ORE DEMAND: WEAK; COAL MOVEMENT: STEADY TO INDIA AND CHINA - CAPT. REDDY
COALspot.com - The freight market was fairly steady with BDI up by 0.37 per cent closed at 812 points this week.
The Cape index was also ended in ...
Friday, 07 June 13
MEDITERRANEAN COAL MARKETS
Press Release: 3rd International Conference Mediterranean Coal Markets will be held on 16-17th of September 2013, Istanbul, Turkey, Ceylan Intercont ...
Friday, 07 June 13
US'S COAL PRODUCTION INCREASED BY 0.54 PER CENT THE WEEK ENDED JUNE 1
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.60 million short tons (mmst) of ...
Thursday, 06 June 13
WE ARE SEEING SOME FRESH INDO COAL TO CHINA AND INDIA - FEARNRESEARCH
Handy
In the Atlantic, the Gulf remains firm for the next week with a few orders in the market. The Supramaxes are seeing around low 20k for fronth ...
Wednesday, 05 June 13
DON'T AVOID PAYING COAL ROYALTY TO THE GOVERNMENT - INDONESIAN ENERGY MINISTER
COALspot.com – “Every country has the right to make policies to protect their national interests”, Energy and Mineral Resources Mi ...
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- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Eastern Coal Council - USA
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