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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, 24 February 13
COAL SWAPS INCH UP WEEK - ON - WEEK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.17 percent and CFR South China coal shipme ...
Sunday, 24 February 13
BDI FELL 1.72 PERCENT BUT FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - This freight market has been fairly steady this week but, BDI fell1.72 pct and closed at 740 points.
The cape index also joins BDI ...
Saturday, 23 February 13
IHS MCCLOSKEY 20TH ANNUAL COAL CONFERENCE OF THE AMERICAS
IHS McCloskey 20th Annual Coal Conference of the Americas to be held on 13-14 March 2013 in Cartagena, Colombia
IHS is pleased to invite you to t ...
Thursday, 21 February 13
HANDY : THE PACIFIC MARKET GOT FIRMED UP AS CHINESE CAME BACK FROM HOLIDAYS - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week but rates remained unchanged as lot of ships in the market. The USG-Feast was at USD 18k and Bla ...
Thursday, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
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- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- The University of Queensland
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
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