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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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Thursday, 21 March 13
HANDY : RBCT ROUNDS FIXED AT $ 9000 + 300K BB - FEARNRESEARCH
Handy
The Atlantic market remains firm with cargoes seen to support healthy rates as per last week. The USG-Feast was at USD 25k and Black Sea-Feas ...
Wednesday, 20 March 13
NTPC TO IMPORT SEVEN MILLION TONS COAL FOR FOUR MONTHS
COALspot.com : NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company has awarded&n ...
Tuesday, 19 March 13
CHINA GAS PRICE REFORMS AND APAC GAS PRICING - FITCH STREET VIEW
Fitch Ratings says pricing reform in the Chinese gas sector is unlikely to materially impact gas distributors' margins, and low gas prices in the U ...
Tuesday, 19 March 13
NEWCASTLE COAL EXPORTS FALL BY 4.27 PERCENT ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,365,561 MT of thermal and coking coal for week ended 0700 hours 18 March 2013, Newcast ...
Tuesday, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
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- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
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