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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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Thursday, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
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- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Planning Commission, India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
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