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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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Sunday, 25 November 12
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO BE FIRM - VISTAAR
COALspot.com - The freight market was buoyant this week with all sectors up except for the Cape size index. The BDI was up by 5.21 pct closing at 10 ...
Sunday, 25 November 12
INDONESIAN SUB BITUMINOUS COAL SWAP CONTRACTS SLIDE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for February 2013 delivery lost 0.76percent WoW but gained 0.16 percent DoD on Friday ...
Saturday, 24 November 12
DELTA DUNIA MAKMUR PRODUCES 3.2 MILLION TONS OF COAL IN OCTOBER
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 31.1 million bcm* (-4.0% YoY) of Overburden in October 2012 totaled while coal production was ...
Friday, 23 November 12
CHOOSING THE RIGHT TIME TO INVEST IN NEW VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Shipping is all about timing, a process often rising to the height of artform, as ship owners are having to pick the exact moment of selling most of ...
Thursday, 22 November 12
HANDY: INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 12500 - FEARNRESEARCH
Handy
The north Continent is seeing plenty of tonnages but lack of cargoes. TA business are around 11k and fronthaul is around 17k.Tonnages has tig ...
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- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
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