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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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Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
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