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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, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Sical Logistics Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
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