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