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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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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
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- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- The University of Queensland
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
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