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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, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- White Energy Company Limited
- Parliament of New Zealand
- ASAPP Information Group - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
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