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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
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