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