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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, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
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- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
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