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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, 25 June 12
RIO TINTO MAKES FIRST COAL SHIPMENT FROM MOZAMBIQUE
Rio Tinto has started exporting premium hard coking coal from its Benga Mine in the Moatize Basin in Mozambique. The first shipment of 34,000 tonnes ...
Sunday, 24 June 12
SUPRAMAX FREIGHT MARKET FIRMED UP FROM INDONESIA TO INDIA - VISTAAR
COALspot.com - This week all the segments gained and marked was firm in the Supramax and Handy size sector, where as the Cape and Panamax inde ...
Saturday, 23 June 12
COAL PRICES APPETITE FOR ROLLER-COASTER RIDES
COALspot.com - SGX AsiaClear OTC Coal Swaps have suffered something of a roller-coaster ride in terms of prices during this week. SGX’s Indone ...
Friday, 22 June 12
PRESENT SPOT WEAKNESS IS TEMPORARY, SEASONAL AND RISE AS WINTER APPROACHES - BUMI
COALspot.com - PT Bumi Resources Tbk, the world’s one of the largest coal producer and Indonesia’s largest multi grade coal miner has no ...
Friday, 22 June 12
GLOBAL ACTION NEEDED ON ENERGY POVERTY - WORLD COAL
Eradicating energy poverty is possibly the biggest challenge facing the world today. Like climate change it can only be addressed with a concerted g ...
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- Sical Logistics Limited - India
- London Commodity Brokers - England
- White Energy Company Limited
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
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