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