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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, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
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