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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, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- The University of Queensland
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
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