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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- PTC India Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
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