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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Planning Commission, India
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
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