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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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Tuesday, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
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