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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, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
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- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
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