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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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Saturday, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
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- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
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