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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, 11 October 12
SINGAPORE BASED COAL SOURCE AND SHIPPING BAGS 300K MT IMPORTED COAL SUPPLY CONTRACT FROM TNPL
COALspot.com - India-based paper manufacturer Tamil Nadu Newsprint and Papers Limited has awarded a tender for 300,000 mt of imported steam co ...
Thursday, 11 October 12
PANAMAX : SINCE LAST WEEK RATES HAS FIRMED FOR ALL TRADES - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to East Med were around USD 14k and B ...
Thursday, 11 October 12
DRY BULK MARKET STEADY AFTER CHINESE HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet staged a solid rebound after last week's holidays in China, as many would have expected. Indeed, many analysts were ...
Wednesday, 10 October 12
NEW BUILDING MARKET ON A QUIET WEEK, DUE TO ASIAN HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The newbuilding ordering activity has been more than quite during the course of the past week, as a result of holidays in both Korea and China. Acco ...
Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
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- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
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