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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, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
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- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
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