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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, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Planning Commission, India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- The University of Queensland
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
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