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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, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
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- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- White Energy Company Limited
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
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