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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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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- White Energy Company Limited
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
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