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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
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