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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- The University of Queensland
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Australian Coal Association
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
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