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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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Thursday, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
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