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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, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
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- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
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