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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, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
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- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
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