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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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Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
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- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
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