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