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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, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
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- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- The University of Queensland
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
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