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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, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Minerals Council of Australia
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- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- The University of Queensland
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
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- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
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- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
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- Sindya Power Generating Company Private Ltd
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- Singapore Mercantile Exchange
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- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
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