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