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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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Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
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- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- London Commodity Brokers - England
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
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