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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, 20 January 13
S7 & S8 ROUTE FREIGHT TREND IS EXPECTED TO BE FLAT TO SOFT THIS WEEK - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices BDI up by 9.21 pct closing at 837 points. The Cape index was also sharply u ...
Friday, 18 January 13
NEWLEAD HOLDINGS LTD. TO ACQUIRE TWO COAL PROPERTIES WITH ESTIMATED COAL RESERVES OF 18.6 MMT & 143.1 MMT
NewLead Holdings Ltd. Announces Signing Agreement to Acquire Properties with Estimated Coal Reserves of 18.6 Million Tons; Signing Agreement to Acqu ...
Friday, 18 January 13
DRY BULK MARKET ON THE RISE, ON STRONG DEMAND FOR CAPESIZE VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has continued its climbing trend yesterday, as the industry's benchmark, the Baltic Dry Index (BDI) was up by 39 points to 820. ...
Friday, 18 January 13
CAPESIZE : SIGNALS ARE MIXED BUT THE OVERALL TENDENCY IS POSITIVE - FEARNLEYS
Handy
The Atlantic market remained stable with USG-Feast fixed around USD 17k, according to fearnleys’s weekly report.
Continent / Medite ...
Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
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- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Planning Commission, India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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