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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, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
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