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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 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
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