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Thursday, 24 December 09
EUROSEAS LTD. ANNOUNCES TWO-YEAR TIME CHARTER AGREEMENT FOR PANAMAX BULK CARRIER
 Euroseas Ltd., an owner and operator of drybulk carriers and container vessels and provider of seaborne transportation for dry bulk and containerized cargoes, announced yesterday, that a subsidiary of the Company has entered into a two-year period time charter agreement for the M/V "Aristides NP," a 69,268 dwt, 1993 built Panamax bulk carrier, at a gross daily rate of $18,900. The charter will commence between end February 2010 and mid April 2010.
This employment is expected to generate approximately $13.5 million of gross revenues during the period of the charter. Following this charter, approximately 100% of Euroseas dry bulk fleet days for 2010 and 40 % for 2011 are secured under period charters, or already concluded spot charters, Forward Freight Agreements (FFA's) and are otherwise protected from market fluctuations. For the container fleet, the corresponding coverage is 37% for 2010 and 16% for 2011 making the combined total fleet coverage 57% for 2010 and 23% for 2011. These percentages do not include extension options held by charterers.
Aristides Pittas, Chairman and CEO of Euroseas, commented: "We continue to take advantage of the strength of the drybulk market and we are pleased to announce that we have chartered M/V 'Aristides NP' at a favorable rate which enables us to enhance the predictability and strength of our revenues and cash flows. We remain focused in our effort to grow the company and create superior returns for our shareholders."
Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 136 years. Euroseas trades on the NASDAQ Global Select Market under the ticker ESEA.
Euroseas operates in the dry cargo, drybulk and container shipping markets. Euroseas' operations are managed by Eurobulk Ltd., an ISO 9001:2000 certified affiliated ship management company, which is responsible for the day-to-day commercial and technical management and operations of the vessels. Euroseas employs its vessels on spot and period charters and through pool arrangements.
The Company has a fleet of 15 vessels, including 4 Panamax drybulk carriers and 1 Handymax drybulk carrier, 2 Intermediate containership, 5 Handysize containerships, 2 Feeder containerships and a multipurpose dry cargo vessel. Euroseas` 5 drybulk carriers have a total cargo capacity of 331,808 dwt, its 9 containerships have a cargo capacity of 15,779 teu and its multipurpose vessel has a cargo capacity of 22,568 dwt or 950 teu.
Source: Euroseas Ltd / Hellenic Shipping
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Wednesday, 30 December 09
CHINA'S 2010 COAL DEMAND COULD RISE 4%-6%, ACCORDING TO CHINA SECURITIES JOURNAL
China, which is the world’s second-largest energy user, may consume between 4 and 6% more coal next year on continued economic growth, China S ...
Tuesday, 29 December 09
PROFIT IN COAL INDUSTRY DOWN 9.4% Y-O-Y IN JAN.- NOV.
In November, China's coal production was 289mln tons, up 26.3% year on year, an increase of 5.2% over last month. China's average daily trucks loa ...
Tuesday, 29 December 09
DHARMA HENWA EYES 20% REVENUE GROWTH
Local integrated mining services provider PT Dharma Henwa, which was earlier this year acquired by coal mining giant PT Bumi Resources, expects reve ...
Monday, 28 December 09
NEED TO IMPORT COAL COMES EARLY
Viet Nam may need to start importing coal as early as 2012, three years earlier than expected, to meet its electricity demands.
The Viet Nam Coal ...
Monday, 28 December 09
GOVT EYES $3.57B MINING, GEOTHERMAL INVESTMENT
The country can expect up to US$3.57 billion in investment in mining and geothermal energy next year, which would represent an increase by more than ...
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- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Planning Commission, India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
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