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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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Wednesday, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
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- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Economic Council, Georgia
- Planning Commission, India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Parliament of New Zealand
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- The University of Queensland
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
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