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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, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
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- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
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