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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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Wednesday, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Planning Commission, India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
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