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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, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
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