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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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Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
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- Coastal Gujarat Power Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Australian Coal Association
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
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