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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, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- London Commodity Brokers - England
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
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