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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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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- White Energy Company Limited
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
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