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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, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
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- Edison Trading Spa - Italy
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
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