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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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Thursday, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
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