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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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Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
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- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
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