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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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Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- PTC India Limited - India
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