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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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Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
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- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
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