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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, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
Thursday, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
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- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Australian Coal Association
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- The University of Queensland
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
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