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