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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, 07 May 13
NEWCASTLE PORT'S COAL EXPORTS HOLD STEADY WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,975,160 tons of thermal and coking coal for week ended 0700 hours 6 May 2013, Newcastl ...
Monday, 06 May 13
INDONESIAN COAL PRICE REFERENCE FALLS CONTINUE
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $ 3.23 / MT in May 2013.
The monthly coal pr ...
Sunday, 05 May 13
SUB-BIT FOB INDONESIA COAL - MIXED TREND; API 8 CFR SOUTH CHINA COAL - POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.28 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 04 May 13
INDONESIA TO INDIA PANAMAX FREIGHT : FLAT TO SOFT - CAPT. REDDY
COALspot.com - The demand for iron ore picked up and its pushed up the cape size index by 7.86 pct. Cape index closed at 1,344 points. The BDI ...
Friday, 03 May 13
US PRODUCED 17.9 MILLION SHORT TONS (MMST) OF COAL IN A WEEK
COALspot.com - U.S. produced totaled approximately 17.9 million short tons (mmst) in a week (For the week ended April 27, 2013), EIA said in its lat ...
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- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- White Energy Company Limited
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
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