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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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Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
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- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- MS Steel International - UAE
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
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