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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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Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
Monday, 12 November 12
DRILLING COMPLETED AT THE MOORLANDS DEPOSIT, WEST BOWEN PROJECT
Press Release - Cuesta Coal Limited (ASX: CQC) (“Cuesta”) is pleased to announce it has completed its exploration activities at the Moor ...
Monday, 12 November 12
BARGE-LOAD OF 5K TONNES OF COAL FROM THE ADK JOINT VENTURE SHIPPED LAST WEEK
COALspot.com - Orpheus Energy (ASX:OEG) has announced that, it has successfully shipped a 5,000 tonne of ADK thermal coal to an Indonesian trading g ...
Sunday, 11 November 12
AN OPTIMISTIC WEEK FOR INDONESIAN SUB-BIT COAL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 2.08 percent WoW and 1.28 percent DoD on Friday, 9 November ...
Sunday, 11 November 12
THE IRON ORE AND COAL PRICES MOVEMENTS REMAINS LOW - VISTAAR
COALspot.com The market remained soft with all the sectors soft.
The BDI and was down by 4.67 pct closing at 940 points, on Friday 9 Novemb ...
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- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- MS Steel International - UAE
- Marubeni Corporation - India
- Australian Coal Association
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
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