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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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Sunday, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
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- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- The University of Queensland
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- PTC India Limited - India
- Makarim & Taira - Indonesia
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