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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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Monday, 15 April 13
SUB - BIT INDONESIA COAL SWAP SHOWS POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.70 percent and CFR South China coal shipment&nbs ...
Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
Thursday, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
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- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- The University of Queensland
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
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