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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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Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Minerals Council of Australia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Planning Commission, India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
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