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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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Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
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- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- The University of Queensland
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Planning Commission, India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
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