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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
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