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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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Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
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