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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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Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
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- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- VISA Power Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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