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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, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
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- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
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