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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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- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Planning Commission, India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
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