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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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Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
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- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
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