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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, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
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- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
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