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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- Parliament of New Zealand
- The University of Queensland
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Australian Coal Association
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
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