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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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Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
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