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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, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
Thursday, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
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- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Planning Commission, India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
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