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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, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
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- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- The University of Queensland
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
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