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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, 04 June 12
MITRABAHTERA SUBSIDIARY SECURES CONTRACT FROM BERAU COAL - INSIDER STORIES
Insider Stories reported that, PT Mitra Alam Segara Sejati, a subsidiary that is 60% owned by PT Mitrabahtera Segara Sejati Tbk (MBSS), has secur ...
Sunday, 03 June 12
TTI ESTABLISHES COAL TRADING & MARKETING OFFICE
COALspot.com - TTI has officially established its coal trading, marketing-office in Jakarta, Indonesia. PT. Gunung Tinggi Coal is the TTI’s fi ...
Sunday, 03 June 12
FREIGHT MARKET CONTINUING ITS DECLINE
COALspot.com - The BDI continued to fall for the fifth straight week and the BDI fell by 2.57 pct this week closing at 904 points.
The Cape Size ...
Friday, 01 June 12
TNPL HAS SECURED 300K MT OF 6000 GAD COAL AT US$ 81 CNF TUTICORIN
COALspot.com - An India based coal trader Adani has offered the lowest price of US$ 81.00 per metric ton for calorific value of 6000 GAD and 15 perc ...
Friday, 01 June 12
COKAL ACCEPTED ON THE CLEAN AND CLEAR LIST FOR ITS BORNEO BARA PRIMA AND BUMI BARITO MINERAL PROJECTS
- Borneo Bara Prima (BBP) Project confirmed on the Clean and Clear List 9th May 2012
- Bumi Barito Mineral (BBM) Project confirmed on the Clean and ...
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Showing 4706 to 4710 news of total 6871 |
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- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
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