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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, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
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