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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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Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
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Showing 4396 to 4400 news of total 6871 |
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
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