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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, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
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- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
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