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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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Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
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- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
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