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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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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Australian Coal Association
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- The University of Queensland
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
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