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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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Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- VISA Power Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
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