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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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Sunday, 28 April 13
PANAMAX FREIGHT COULD BE SOFT NEXT WEEK - CAPT. REDDY
COALspot.com - This BDI closed slightly lower at 871 points (down by 1.91 pct) mainly due to drop in the Panamax index by almost 10 pct.
Th ...
Saturday, 27 April 13
HANDY : SLIDING ; PANAMAX : POSITIVE ; CAPESIZE : STILL ON ITS KNEES - FEARNRESEARCH
Handy
The Atlantic markets started sliding with no fresh cargoes seen in the market. The USG-Feast was at USD 18k and Black sea-Feast was at USD 11 ...
Saturday, 27 April 13
2ND CHINA INTERNATIONAL SHALE GAS SUMMIT
Press Release - 2nd China International Shale Gas Summit, 10-13 September 2013 | Chengdu, China
*The largest annual event for the shale gas indus ...
Friday, 26 April 13
LIMA SUMMIT IN JULY TO HIGHLIGHT LATIN AMERICAN MINING POTENTIAL
COALspot.com - Latin American mining industry officials and their private sector counterparts will be gathering in Lima, Peru on July 1-2 for the La ...
Wednesday, 24 April 13
FUTURE US POWER MARKET SHARES OF COAL, NATURAL GAS GENERATORS DEPEND ON RELATIVE FUEL PRICES - EIA
COALspot.com - In recent years, in US, natural gas competed more effectively with coal as a fuel for electricity generation as the cost of operating ...
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- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
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