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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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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- PTC India Limited - India
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