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