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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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Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Trasteel International SA, Italy
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
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