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Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals being concluded. Owners are looking to acquire vessels as low as they can get them, in terms of pricing. This is a key factor nowadays, towards securing that the newly acquired vessels enjoy low break-even levels, which in today's market of low rates is of paramount importance. If a ship is able to remain profitable in this market, then when things improve in the longer-run it will provide its owner with much more profitable margins.
According to the latest weekly report from Lion Shipbroker, on the dry bulk side, "in an off market deal, clients of Polaris of South Korea have acquired a fleet of 10 ore carriers for $600 mill basis 10 to 12 year time charter back to Sellers, Vale of Brazil, at an undisclosed rate. The 300,000 deadweight capacity ships, which where originally tankers converted to bulkers, were bought by current owners between 2009 and 2010 when Vale sought to build a maritime fleet to serve its clients. Following June’s sale of GAIA (170K BLT 1999 DAEWOO/S. KOREA) for $15.2 mill, clients of Swissmarine of Greece are also linked with the sale of 2 years older cape ORCHID RIVER (170K BLT 1997 KOYO/JAPAN) for $12.3 mill basis special & dry-docking surveys freshly passed.
Mini caper SAAR N (122K BLT 1995 DAEWOO/S. KOREA, LDT 16477) is snapped by South Korean buyers for the scrap related price of $6.6 mill including bunkers basis delivery in Singapore, equivalent to $400 per lt. Two prompt 76.5k panamax resales ex Hudong Shipyard in China have been committed by clients of Katsikis & Sigalas for $24 mill each. It should be noted that vessels were designed & contracted by Chinese owners. Japanese controlled panamax BRAVE WIND (71K BLT 1997 NAMURA/JAPAN) is reported sold to German buyers for $10.25-$10-.5 mill basis special & drydocking surveys freshly passed, while other sources suggest that vessel is still for sale. A fleet of six handymax sisters (42K BUILT 1990/1991 IN HYUNDAI/S. KOREA, LDT 7700) are committed en bloc to undisclosed Turkish interests for usd 21 mill (equivalent to $3.5 mill each having a scrap value of $3.2 mill), while other sources suggest they went to Bangladeshi buyers.
South Korean controlled handymax IOANTHI (42K BLT 1992 OSHIMA/JAPAN CR 4X30T) is reported sold to Indonesian or Taiwanese buyers for $6.7 mill. Originally ordered by TMT of Taiwan, prompt handy resale B HANDY (37K BLT OCT 2012 HYUNDAI MIPO/S. KOREA CR 4X30T) has gone to South East Asian buyers for $20 mill. Having being reported erroneously sold back in May for $14.5 mill to Turks, Japanese controlled boxhold handy GITTA OLDENDORFF (31K BLT 2005 SAIKI/JAPAN CR 4X30T) has finally found Far Eastern buyers who paid $13.25 million" Lion said.
On the container/mpp front, situation is still slow with just a few further trading sales to report the shipbroker added. "Clients of Orient Express Lines of Singapore have purchased gearless feeder BUNGA TERATAI (1725 TEUS BLT 1998 DAEWOO/S. KOREA) for $5.5 mill. In an auction in Halifax, Canada, clients of ARA Shipping of Holland were the highest bidders with $1.2 mill for gearless feeder AFL NEW ENGLAND (700 TEUS BLT 1996 SIETAS/GERMANY). In the Tanker segment, numerous VLCCs changed hands this week; SAMCO RAVEN (301K BLT 1996 SUMITOMO/JAPAN) was committed to Greek interests for $25.5 mill, while LA MADRINA (299K BLT 1994/DENMARK) was bought for storage by clients of Southernpec of China for $21 mill. Japanese controlled TENRYU (281K BLT 1999 MITSUBISHI/JAPAN) & TOKACHI (280K BLT 1999 IHI/JAPAN) were committed to undisclosed interests for $25 & $27 mill respectively. Pumproom MR AVONDEN (45K BLT 2004 SHIN KURUSHIM/JAPAN) is sold for $14.5 mill to clients of AVIN of Greece, while two years older shallow draft product carrier ANTIGNANO (40K BLT 2002 HYUNDAI MIPO/S. KOREA) went for exactly the same level to undisclosed buyers basis special & dry-docking surveys freshly passed.
Chinese buyers have acquired zinc coated handy FORMOSA SEVEN (33.6K BLT 1996 SHIN KURUSHIMA/JAPAN) for $9.35 mill. High specification ice class chemical unit SUNRISE WISTERIA (12.6K BLT 2007 SAMHO/S. KOREA IMO2/3 EPOXY COATED, COILED, 14 TANKS) changed hands within Japan for $11.8 mill. In a distressed sale, small product/chemical sisters RUTH THERESA & DITTE THERESA (8K BLT 2008 NANTONG MINGDE/CHINA MARINELINE COATED) were acquired en bloc by clients of Borealis maritime of U.K. for $7.5 mill each" Lion Shipbroker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping
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Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
Thursday, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
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- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Planning Commission, India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
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