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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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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Australian Coal Association
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
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