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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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Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
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- White Energy Company Limited
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
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