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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, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
Thursday, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
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- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
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