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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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Monday, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- PTC India Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Minerals Council of Australia
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
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