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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
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