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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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
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