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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, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
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- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- The University of Queensland
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
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