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Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals being concluded. Owners are looking to acquire vessels as low as they can get them, in terms of pricing. This is a key factor nowadays, towards securing that the newly acquired vessels enjoy low break-even levels, which in today's market of low rates is of paramount importance. If a ship is able to remain profitable in this market, then when things improve in the longer-run it will provide its owner with much more profitable margins.
According to the latest weekly report from Lion Shipbroker, on the dry bulk side, "in an off market deal, clients of Polaris of South Korea have acquired a fleet of 10 ore carriers for $600 mill basis 10 to 12 year time charter back to Sellers, Vale of Brazil, at an undisclosed rate. The 300,000 deadweight capacity ships, which where originally tankers converted to bulkers, were bought by current owners between 2009 and 2010 when Vale sought to build a maritime fleet to serve its clients. Following June’s sale of GAIA (170K BLT 1999 DAEWOO/S. KOREA) for $15.2 mill, clients of Swissmarine of Greece are also linked with the sale of 2 years older cape ORCHID RIVER (170K BLT 1997 KOYO/JAPAN) for $12.3 mill basis special & dry-docking surveys freshly passed.
Mini caper SAAR N (122K BLT 1995 DAEWOO/S. KOREA, LDT 16477) is snapped by South Korean buyers for the scrap related price of $6.6 mill including bunkers basis delivery in Singapore, equivalent to $400 per lt. Two prompt 76.5k panamax resales ex Hudong Shipyard in China have been committed by clients of Katsikis & Sigalas for $24 mill each. It should be noted that vessels were designed & contracted by Chinese owners. Japanese controlled panamax BRAVE WIND (71K BLT 1997 NAMURA/JAPAN) is reported sold to German buyers for $10.25-$10-.5 mill basis special & drydocking surveys freshly passed, while other sources suggest that vessel is still for sale. A fleet of six handymax sisters (42K BUILT 1990/1991 IN HYUNDAI/S. KOREA, LDT 7700) are committed en bloc to undisclosed Turkish interests for usd 21 mill (equivalent to $3.5 mill each having a scrap value of $3.2 mill), while other sources suggest they went to Bangladeshi buyers.
South Korean controlled handymax IOANTHI (42K BLT 1992 OSHIMA/JAPAN CR 4X30T) is reported sold to Indonesian or Taiwanese buyers for $6.7 mill. Originally ordered by TMT of Taiwan, prompt handy resale B HANDY (37K BLT OCT 2012 HYUNDAI MIPO/S. KOREA CR 4X30T) has gone to South East Asian buyers for $20 mill. Having being reported erroneously sold back in May for $14.5 mill to Turks, Japanese controlled boxhold handy GITTA OLDENDORFF (31K BLT 2005 SAIKI/JAPAN CR 4X30T) has finally found Far Eastern buyers who paid $13.25 million" Lion said.
On the container/mpp front, situation is still slow with just a few further trading sales to report the shipbroker added. "Clients of Orient Express Lines of Singapore have purchased gearless feeder BUNGA TERATAI (1725 TEUS BLT 1998 DAEWOO/S. KOREA) for $5.5 mill. In an auction in Halifax, Canada, clients of ARA Shipping of Holland were the highest bidders with $1.2 mill for gearless feeder AFL NEW ENGLAND (700 TEUS BLT 1996 SIETAS/GERMANY). In the Tanker segment, numerous VLCCs changed hands this week; SAMCO RAVEN (301K BLT 1996 SUMITOMO/JAPAN) was committed to Greek interests for $25.5 mill, while LA MADRINA (299K BLT 1994/DENMARK) was bought for storage by clients of Southernpec of China for $21 mill. Japanese controlled TENRYU (281K BLT 1999 MITSUBISHI/JAPAN) & TOKACHI (280K BLT 1999 IHI/JAPAN) were committed to undisclosed interests for $25 & $27 mill respectively. Pumproom MR AVONDEN (45K BLT 2004 SHIN KURUSHIM/JAPAN) is sold for $14.5 mill to clients of AVIN of Greece, while two years older shallow draft product carrier ANTIGNANO (40K BLT 2002 HYUNDAI MIPO/S. KOREA) went for exactly the same level to undisclosed buyers basis special & dry-docking surveys freshly passed.
Chinese buyers have acquired zinc coated handy FORMOSA SEVEN (33.6K BLT 1996 SHIN KURUSHIMA/JAPAN) for $9.35 mill. High specification ice class chemical unit SUNRISE WISTERIA (12.6K BLT 2007 SAMHO/S. KOREA IMO2/3 EPOXY COATED, COILED, 14 TANKS) changed hands within Japan for $11.8 mill. In a distressed sale, small product/chemical sisters RUTH THERESA & DITTE THERESA (8K BLT 2008 NANTONG MINGDE/CHINA MARINELINE COATED) were acquired en bloc by clients of Borealis maritime of U.K. for $7.5 mill each" Lion Shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Friday, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- PTC India Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
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