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Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite oversupply issues, caused by a still huge orderbook. Yesterday, the industry’s benchmark, the BDI (Baltic Dry Index) inched higher for a third straight session, fed by the increased appetite for Capesize vessels, able to carry 150,000 tons of raw materials, like coal and iron ore. The BDI increased by an additional 0.87% to 1,862 points yesterday, with Capesizes leading the pack once again. The BCI (Baltic Capesize Index) was up by 2.67% to 3,386 points, thanks to higher appetite from Chinese charterers. By contrast, all other dry bulk ship markets were again lower on the day, with Panamaxes losing almost 1% and Supramaxes losing 0.88%.
Meanwhile, in a report this week, shipbroker Intermodal talked about an interesting development in the newbuilding market, with a new type of carrier, the so called "eco-type" handysize bulker enjoying plenty of attention lately. According to Intermodal’s Panos Tsilingiris, this shouldn’t be taken as a surprise, as there are a few factors which substantiate such investments, like the fact of an aged Handysize fleet, with approximately 36.6% of the fleet being more than 25 years old. Also, this carrier offers "significant slippage/cancellation figures because handies were generally contracted to less reputable yards" said Intermodal, also noting handies’ limited historical downside risk, the speculation on the robust growth of certain emerging markets (notably Africa); the continuing softening in newbuilding prices given the increased competition among -mostly Chinese- yards; and the emergence of eco handy BC designs, which has rejuvenated shipowners’ interest in the segment.
According to Intermodal, "regarding the last factor, half a dozen of different eco-type designs have already been contracted in Chinese shipyards. Specifically, only 32 out of an outstanding 237 handy newbuildings in China, are effective eco handy NB contracts. Other designs are offered in Japanese, Korean and Vietnamese yards with the Chinese, however, entertaining shy half of the current total handy orderbook. While the different eco designs share some common attributes e.g., same main engine, double-skin versions (certain designs also offer single skin versions), etc., they also exhibit distinctive characteristics (e.g., draft, size of hatch-openings, etc), while certain tailor-made variations are offered (e.g., log-fitted, ice-class, mechanical ventilation, open-hatch/topside, etc). Still, the “holy grail" is fuel oil consumption with promised figures ranging from the very high-teens to low-mid 20s tons/day” said Intermodal.
Mr. Tsilingiris also notes that "interestingly, some buyers prefer designs in the region of 35-37.5kdwt, while others seek dwt maximization. For that purpose we have here broken down handies xs30kdwt into three size groups. Relevantly, the orderbook-to-fleet ratios in the 32.5-37kdwt (Group2) and xs37-shy43kdwt (Group3) segments are 47.84% and 32.35%, respectively, while in the 30-32.5kdwt (Group1) just 20.7%. As one can read in the table, the demographics favor the segment with the highest dwt, where the >25yo fleet in Group3 is xs56% (while in Groups 1 and 2 the respective figures are around 25%); however, the larger sizes may run aground on chartering competition from smaller handymaxes" he said.
Finally, recapping, Intermodal said that "there is recently plenty of interest from owners as well as competition from yards and design houses on handy bulk carrier newbuildings. With their significantly improved consumption numbers (as well as lower capital expenses due to the softening NB prices), eco handy newbuilding projects constitute today a rather realistic proposal. Moreover, as opposed to the boom years where big yards snubbed handies, nowadays a buyer is offered with the opportunity to build such at a first class Chinese yard. Given the aged fleet, we expect gradual strategic fleet renewals. With (the lack of) financing being the central bottleneck, improved BBHP and alternative financing possibilities may merit the further consideration of those investors not having cash/financing in hand" concluded the report.
Source: Nikos Roussanoglou, Hellenic Shipping
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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
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