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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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Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Planning Commission, India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Australian Coal Association
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
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