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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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Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
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