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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, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
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- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- PTC India Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
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