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