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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, 17 December 12
SHIP PRICES TO BOTTOM OUT IN 2013 SAYS GEORGE D. GOURDOMICHALIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship values especially in older tonnage, or even modern vessels with poor quality are expected to fall further during 2013, with the market as a who ...
Monday, 17 December 12
SYNERGISING WITH PIONEERS TO DEVELOP TOMORROW'S LATIN AMERICAN RAILWAYS
Press Release: Brazil being one of the largest country in South America has one of the most dynamic rail markets in the world. Rail transport in Bra ...
Sunday, 16 December 12
FREIGHT TREND SOFTENED THIS WEEK - VISTAAR
COALspot.com - The freight market further softened this week and closed at 784 points (down by 18.84 pct). The cape index had the biggest fall ...
Friday, 14 December 12
GMR GROUP OF INDIA TO IMPORT 100K MT OF 4800 GAR COAL
COALspot.com: GMR Group of India to invite bids for 100,000 Metric Tons of imported non coking coal to be delivered during January and February 2013 ...
Thursday, 13 December 12
HANDY : WCI-CHINA RATES AROUND $ 6000 AND ECI-CHINA AROUND $ 4000 - FEARNLEYS
Handy
Atlantic market remained unchanged. Rates from USG to Feast were around USD 18k and Black Sea to Feast about USD 10k. USG-Skaw-Passero rates ...
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Showing 4461 to 4465 news of total 6871 |
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- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- The University of Queensland
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Planning Commission, India
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