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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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Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
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