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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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Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
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 ...
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- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
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