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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, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
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- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Deloitte Consulting - India
- VISA Power Limited - India
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