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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, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
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- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- White Energy Company Limited
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Carbofer General Trading SA - India
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