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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, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
Friday, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
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- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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