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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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Sunday, 22 July 12
NEW CHAIRMAN FOR AUSTRALIAN COAL ASSOCIATION
The Australian Coal Association (ACA) announced that Mr Ross Willims has been appointed as its new independent Chairman effective November 5 2012. M ...
Sunday, 22 July 12
CENTRAL KALIMANTAN COAL RAILWAY NETWORK WILL BE BUILT BY 2015 - THE BORNEO POST
The borneo post reported that, a declaration to build a coal railway network is signed today (12/07/2012) in front of the Indonesian Vice President ...
Sunday, 22 July 12
COAL PRICES IN MIXED TRENDS; STOCKS REMAIN HIGH AT BOTH ENDS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery fell 0.99 percent on last Friday closing (d-o-d) and 1.19 percent com ...
Sunday, 22 July 12
TATA POWER SIGNS A LONG TERM COAL SUPPLY AGREEMENT WITH PT ANTANG GUNUNG MERATUS, INDONESIA
COALspot.com - Tata Power, India’s largest integrated power utility, last Friday announced that it has signed a long term coal suppl ...
Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
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- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- White Energy Company Limited
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
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