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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- MS Steel International - UAE
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
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