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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, 27 January 13
CFR SOUTH CHINA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has gained 0.31 percent and CFR South China coal shipment&nbs ...
Sunday, 27 January 13
FREIGHT MARKET: FLAT TO SOFT - VISTAAR
COALspot.com - The freight market was soft and all the indices were down except for handy size.
The BDI was down 4.66 pct closing at 798 points.. ...
Friday, 25 January 13
BOTSWANA GOVERNMENT GRANTS COAL LICENSES TO A-CAP RESOURCES LIMITED
A-Cap Resources Limited has announced that it has been granted coal rights within its Bolau tenements which sit next to the Sese Coal and Power Proj ...
Friday, 25 January 13
SMALL ROOM FOR OPTIMISM FOR THE PROSPECTS OF THE DRY BULK MARKET AS NET FLEET GROWTH IS SLOWING DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market didn't manage to post a rebound during the past year, quite the opposite, as a fast fleet growth and slow ...
Thursday, 24 January 13
INDO - INDIA NOW AT APS $ 8K + BB USD 90000 - FEARNLEYS AS
Handy
The Atlantic market remains stable as supply of tonnage is still in excess of demand. USG- Far east fixed at $18k and CONT-FEAST at $ 11k. Pa ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
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