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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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- The Treasury - Australian Government
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Minerals Council of Australia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- The University of Queensland
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
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