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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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Thursday, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
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- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- PTC India Limited - India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Australian Coal Association
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
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