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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, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- PTC India Limited - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
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