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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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Saturday, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
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