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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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Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- White Energy Company Limited
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Australian Coal Association
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
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