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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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Friday, 01 June 12
ADARO BUYS MAJORITY STAKE IN AFFILIATED BHAKTI ENERGI - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk entered into an option to provide a convertible loan of up to US$500 million for a period of 3 ye ...
Thursday, 31 May 12
DRY BULK MARKET UNABLE TO FIND NEW SUPPORT TO REACH HIGHER LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been unable to find new support and recover to higher levels during these past few days. As a result, the Baltic Dry Index ( ...
Wednesday, 30 May 12
ORPHEUS RAISES $2.24M TO ADVANCE INDONESIAN COAL PRODUCTION ASSETS
• $2.24 million raised from a placement to new and existing institutional and sophisticated investors from Australia and overseas
• Funds ...
Wednesday, 30 May 12
ARPENI SECURES TRANSSHIPMENT CONTRACT FROM BARUNA DIRGA
Insider Stories reported that, shipping operator PT Arpeni Pratama Ocean Line Tbk (APOL) has secured a 1-year coal transhipment contract of 4 millio ...
Monday, 28 May 12
COAL EXPORTS ARE JUMPING HIGHER, BUT PRICES ARE FALLING LOWER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31.86* million tons of coal in April 2012, compared to 30.64* million tons i ...
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- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Videocon Industries ltd - India
- The University of Queensland
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
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