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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, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- MS Steel International - UAE
- White Energy Company Limited
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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