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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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Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- The University of Queensland
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
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