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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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Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
Saturday, 22 December 12
DELTA DUNIA MAKMUR PRODUCED 3.2 MILLION TONS OF COAL IN NOVEMBER' 12
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 28.1 million bcm* (+1.8% YoY) of Overburden in November 2012 while coal production was at 3.2 ...
Friday, 21 December 12
JORC CODE, 2012 EDITION NOW FINALIZED
COALspot.com - The JORC Committee has announced that, the completion of the review of the JORC Code of 2012 Edition.
The JORC Code, 2012 Ed ...
Thursday, 20 December 12
COAL CLOSING IN ON OIL AS WORLD'S TOP ENERGY SOURCE BY 2017
COALspot.com - Coal’s share of the global energy mix continues to rise, and by 2017 coal will come close to surpassing oil as the world’ ...
Thursday, 20 December 12
CHINA'S IRON ORE AND COAL DEMAND WILL SHAPE THE CAPESIZE DRY BULK TRADE DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the best efforts from ship owners to help alleviate the current tonnage oversupply issue in the dry bulk segment, especially in the larger v ...
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- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- The University of Queensland
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Minerals Council of Australia
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