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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, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Economic Council, Georgia
- Marubeni Corporation - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
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