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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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Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mi ...
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- The University of Queensland
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- MS Steel International - UAE
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Australian Coal Association
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
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