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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
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