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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, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
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- Central Java Power - Indonesia
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- GMR Energy Limited - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
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