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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
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