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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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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Australian Coal Association
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Aditya Birla Group - India
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