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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, 08 January 13
HOLIDAY ACTIVITY SCARCE IN THE MARKET OF SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although the market for second hand vessel purchasing was quite lull during the Holiday period, as is usually the case, the first days of the New Ye ...
Tuesday, 08 January 13
NEWCASTLE PORT SHIPPED 3.197 MILLION MT OF COAL W/E 7 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,197,580 MT of thermal and coking coal for week ended 0700 hours 7 January 2013, Newcas ...
Sunday, 06 January 13
CFR SOUTH CHINA COAL: 2014 DELIVERY CLOSED US$ 6.80 HIGHER THAN Q1 '13 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.37 percent WoW and CFR South China coal sh ...
Sunday, 06 January 13
COAL BOOM: WAKE-UP CALL FOR INDIA & INDONESIA! - SUNIL K KUMBHAT
COALspot.com - Coal Boom : Scenario, Now & later!
Coal has been the dominant fuel for power generating plants in developed countries since th ...
Sunday, 06 January 13
FREIGHT MARKET REMAINED FAIRLY STEADY - VISTAAR
WISH YOU ALL HAPPY NEW YEAR
COALspot.com - The freight market remained fairly steady in spite of Christmas / New Year Holidays. The BDI was almos ...
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- Independent Power Producers Association of India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Posco Energy - South Korea
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Planning Commission, India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Australian Coal Association
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
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