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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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Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
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