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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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- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
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