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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, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
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- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- PTC India Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Planning Commission, India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
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