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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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Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Australian Coal Association
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
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