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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- White Energy Company Limited
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Planning Commission, India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
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