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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, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
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- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
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