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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
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