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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, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- PTC India Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
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