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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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Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
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- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Australian Coal Association
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
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