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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- MS Steel International - UAE
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
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