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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, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
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- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Australian Coal Association
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
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