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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 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Renaissance Capital - South Africa
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
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