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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, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
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- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- The University of Queensland
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
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