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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, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
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- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Planning Commission, India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
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