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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- MS Steel International - UAE
- Wilmar Investment Holdings
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
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