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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
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