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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, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
Monday, 11 March 13
SUB-BIT FOB INDONESIA COAL SWAPS FELL 1.41 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 1.41percent and CFR South China coal shipment ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
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