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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, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- The University of Queensland
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Chamber of Mines of South Africa
- PTC India Limited - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- VISA Power Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
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