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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 deliveries, ship owners are still keen on investing on second hand bulkers, should the proper opportunity arise. They are betting that, if the price is right, they can break even as soon as the dry bulk market posts a small rebound from today's near record low levels. This means that once the current oversupply of tonnage is alleviated, they can earn a hefty profit on these cheaply acquired vessels.
According to the latest report from Clarkson Hellas on the Sales and Purchase front, it was another week of hightened activity in the dry cargo sector, "with more reported activity across all sectors. Clients of Sinokor have dominated the capesize market this week with the reported purchases of 2 x VLOCs namely the M/V WARRIOR (243,850 dwt 1990 blt I.H.I.) at US$ 12m and the M/V GENERAL (238,818 dwt 1992 blt Hitachi Zosen) from Chinese owners HOSCO for US$ 12.5m, and the M/V RUBIN HOPE (170,409 dwt 1999 blt I.H.I) from clients of Mitsui O.S.K. for region US$ 15m. The “WARRIOR” and “GENERAL” were both acquired by the owners as VLCCs in 2007 and converted in January 2008 to ore carriers.
The handymax M/V NEW EMERALD (45,554 dwt 1996 blt Samsung) is concluded at around US$ 7.5m to Greek buyers while the older M/V KS GRACE (41,090 dwt 1985 blt Oshima) is reportedly sold to Chinese buyers for US$ 3.1m.
In the handies Chinese buyers have agreed to pay US$ 6.5m for M/V NEW ALLIANCE (27,904 dwt 1996 blt Hakodate) while the M/V KOPER (22,150 dwt 1993 blt Saiki) reported sold at US$ 4.5m to Far Eastern buyers.
In the Tanker S+P market we can report the sale M/T HELLESPONT TROOPER (147,916 dwt 1996 blt Samsung) which understand acquired by Greek buyers at a price in the region of US$ 12m. The M/T RAINBOW QUEST (47,221 dwt 1999 blt Onomichi) to Mercator at close to US$ 11.5m" Clarkson Hellas said.
Meanwhile, in another critical segment for the future of the dry bulk market, the demolition of older vessels, this time around, owners are refraining from selling more of their older vessels at the moment, as a result of a considerable price reduction in rates they can receive from scrapyards around the world and mainlyAsia, where the vast majority of vessels are being scrapped. According to shipbroker Intermodal, "it seems as though owners decided to delay any decision to proceed with pushing their overage tonnage for demolition. This was also fairly prevalent by the slower activity noted in the market the past week. Things are unlikely to change for the better fairly quick, as the difficulties noted by Bangladeshi breakers with regards to getting lines of credit open and at the same time the slower interest from both India and Pakistan will likely keep things subdued for a while. China on the other had seemed to have had a change in appetite, increasing its offered price levels and essentially closing the large gap between them and the Indian sub-continent that had been created since the end of July. Prices as such held fairly stable this week, with wet tonnage receiving around 320-400$/ldt and dry units still holding at about 290-375$/ldt".
In a separate note on demolition activity, Athenian Shipbrokers said that "once more the timing of making a vessel available for demolition proves to be of the essence as the weakening of recycling market interest seems to hit owners seeking to promptly off-load older tonnage. India leads the way with mild interest shown on promptly available vessels, while Pakistani breakers seem to – traditionally – strongly favour tanker vessels. With the Bangladeshi market currently closed as it tries to ‘digest’ tonnage already in their hands and China showing little signs of recovery, it is inevitable that the stream of vessels heading towards the Sub – Continent will continue to flow unabated" the shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
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- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
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