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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, 05 January 12
DRY BULK MARKET TAKES A PLUNGE OF LOW ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was widely expected the first days of the new year are characterized by significantly low chartering across the board of the dry bulk market, pus ...
Wednesday, 04 January 12
NEWBUILDING ORDERS PICKED UP IN 2011, BUT 2012 EXPECTED TO BE A DIFFERENT STORY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) starting the year on a sour note, losing 114 points and ending yesterday’s session, the first of the new year, ...
Wednesday, 04 January 12
MAHAGENCO TO IMPORT LOW MOISTURE COAL
COALspot.com - Maharashtra State Power Generation Co. Ltd. is the state power generation utility owned by Government of Maharashtra, intends to proc ...
Tuesday, 03 January 12
INDONESIA COAL REFERENCE PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the January 2012 coal reference price at US$ 109.29 per ton or US$ 3.3 ...
Tuesday, 03 January 12
WHICH WAY WILL THE DRY BULK MARKET HEAD ON FIRST WEEK OF THE YEAR? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Dry bulk ship owners will be wondering which way will the BDI (Baltic Dry Index), the industry’s benchmark, will head during the first days of ...
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- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Planning Commission, India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Australian Coal Association
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
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