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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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Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
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- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Planning Commission, India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
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