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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, 19 April 13
FIRST QUARTER OF 2013 PROVEN A POSITIVE SURPRISE FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite ominous predictions regarding the negative performance of the dry bulk market during the – traditionally weak anyway – first qua ...
Thursday, 18 April 13
HANDY: STABLE ; PANAMAX: BUSY WEEK - FEARNRESEARCH
Handy
The Atlantic markets remain stable in this week. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market is bit f ...
Thursday, 18 April 13
FEATURE: PREDICTING THE FUTURE - AND THE PAST - BIMCO
It’s not predicting the future that is problematical, it’s the realisation that you have to relive the past again and again when you fai ...
Wednesday, 17 April 13
INDONESIA SHIPPED 80 MILLION TONS OF COAL IN FIRST QUARTER - COAL DIRECTOR
COALspot.com - Indonesia has exported around 80 million tons of coal including power plant coal in first three months of this year.
Speaking on t ...
Tuesday, 16 April 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS JUMPED 20.87 PER CENT ON WEEK TO 3.07 MMT
COALspot.com - Newcastle port in Australia has loaded 3,077,431 tons of thermal and coking coal for week ended 0700 hours 15 April 2013, Newca ...
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- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Sical Logistics Limited - India
- Planning Commission, India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- The University of Queensland
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
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