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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, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
Friday, 09 November 12
SHIP OWNERS TURN TO SECOND HAND VESSELS, WHICH COME AT ATTRACTIVE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The attractiveness of modern second hand vessels, which are often priced aggressively can't be ignored by cash-rich ship owners, who are taking adv ...
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- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
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