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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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Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
Tuesday, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
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- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Marubeni Corporation - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- The University of Queensland
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Planning Commission, India
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