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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, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- The University of Queensland
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
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