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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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Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
Saturday, 01 September 12
PANAMAX FREIGHT RATES UNDER PRESSURE FROM LOW DEMAND - VISTAAR
COALspot.com - This week the freight market was weak with mixed results.
The BDI was down by 1.95 pct closing at 703 points, however there was so ...
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- Marubeni Corporation - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Economic Council, Georgia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
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