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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, 11 June 12
BAHANA FORECASTS THE COAL PRICES WILL FALL FURTHER
COALspot.com - Growing US coal supplies + low shipping costs = Asia as target.
According to Irwan Budiarto analyst at Bahana Securities, US ...
Monday, 11 June 12
ASIAN COAL TRADING COMMUNITY EMBRACES API 5 AND API 8
Press Release - The Asian coal trading community is embracing the API 5 and API 8 indexes for its swap contracts.
The API 5 index represents 5,50 ...
Sunday, 10 June 12
FREIGHT MARKET EXPECTED TO REMAIN WEAK FOR NEXT FEW WEEKS - VISTAAR
COALspot.com - The BDI continued to fall this week and down by 2.99 pct closing at 877 points.
The Cape index also was down by 5.78 pct closing a ...
Friday, 08 June 12
ESSAR ENERGY RECEIVES FINAL APPROVAL FOR INDONESIAN COAL BLOCK
COALspot.com - Essar Energy plc, the India-focused integrated energy company, today announced that it has received final ‘Pinjam Pakai’ ...
Friday, 08 June 12
MINISTER DENIES COAL EXPORT TAX PLAN, ENDORSES RESTRICTIONS - THE JAKARTA POST
The Jakarta post, one of the leading english news paper in Indonesia reported that, Energy and Mineral Resources Minister Jero Wacik has denied that ...
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- Medco Energi Mining Internasional
- Marubeni Corporation - India
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- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
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- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
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- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
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- Independent Power Producers Association of India
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- Parliament of New Zealand
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- Thai Mozambique Logistica
- Planning Commission, India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
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- Bayan Resources Tbk. - Indonesia
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- Leighton Contractors Pty Ltd - Australia
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- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
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- ICICI Bank Limited - India
- Energy Development Corp, Philippines
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- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
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- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
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- Altura Mining Limited, Indonesia
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- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
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- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
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- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
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- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
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