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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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Thursday, 04 October 12
CAPESIZE : IN SPITE OF THE HOLIDAYS IN CHINA, RATES ARE CLIMBING UP - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Continent to east Med were around USD 13k and Black ...
Wednesday, 03 October 12
BARCLAYS'S PRICE FORECAST FOR NEWCASTLE COAL HAS BEEN WRITTEN DOWN
“ The main story in the global coal markets has been the growth in supply, with all of the major exporters adding volumes into a market which ...
Sunday, 30 September 12
SUB-BIT INDONESIA COAL SWAPS: MIXED TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 0.73 percent w-o-w but gained 0.41 percent d-o-d on Friday, 28 Se ...
Sunday, 30 September 12
INDONESIA HAS NO PLAN TO CAP COAL PRODUCTION
COALspot.com - “The current low coal prices were mainly due to a global oversupply condition, spurred by numerous mining exploitations in the ...
Sunday, 30 September 12
FREIGHT MARKET UNDER PRESSURE; OVERALL SENTIMENTS ARE STILL BEARISH
COALspot.com - The freight market seemed to have lost steam and all indices were down except for cape index.
The BDI was slightly down by 6 point ...
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- Bayan Resources Tbk. - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Global Business Power Corporation, Philippines
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- India Bulls Power Limited - India
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- GMR Energy Limited - India
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- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
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- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
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- TeaM Sual Corporation - Philippines
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- Global Green Power PLC Corporation, Philippines
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- Mintek Dendrill Indonesia
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- Sarangani Energy Corporation, Philippines
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- SMC Global Power, Philippines
- Mjunction Services Limited - India
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- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
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- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
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- Directorate General of MIneral and Coal - Indonesia
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- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
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- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
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- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
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- Parry Sugars Refinery, India
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- Minerals Council of Australia
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- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
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- Planning Commission, India
- Bulk Trading Sa - Switzerland
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- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
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- White Energy Company Limited
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