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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, 07 March 13
PANAMAX : POSITIVE TREND; CAPESIZE : GRADUALLY SLIDE - FEARNLEYS AS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 22k and Black sea-feast was at USD 12k. The ...
Tuesday, 05 March 13
NEWCASTLE PORT SHIPPED 20.77 PERCENT MORE COAL W/E 4 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,631,562 MT of thermal and coking coal for a week ended 0700 hours 4 March 2013, Newcas ...
Sunday, 03 March 13
INDONESIAN THERMAL COAL SWAPS; CHINA CONTRACTS FALL W-O-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 0.75 percent and CFR South China coal shipment&nbs ...
Sunday, 03 March 13
FREIGHT MARKET FROM INDONESIA EXPECTED TO BE FIRM - VISTAAR
COALspot.com – The freight market has been fairly firm this week except for cape size index.
The BDI was up by 4.64 points closing at 776 p ...
Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
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- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
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