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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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Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
Friday, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
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- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- The University of Queensland
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
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