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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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Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
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- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Planning Commission, India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
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