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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- The University of Queensland
- Georgia Ports Authority, United States
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