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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, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
Wednesday, 14 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
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- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Planning Commission, India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
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