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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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Tuesday, 22 December 09
NEWCASTLE COAL SHIP QUEUE LONGEST IN TWO YEARS AS EXPORTS SLOW
Bloomberg reported that, the queue of coal ships waiting at Australia’s Newcastle port, the world’s biggest export harbor for the fuel, ...
Monday, 21 December 09
INDONESIA HAS EXPORTED AROUND 195.303 MILLION TONS OF COAL TILL END OF NOVEMBER 2009
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in November 2009, by taking 28.69% of total exported quan ...
Monday, 21 December 09
RUSSIAN COAL MINER SUEK EYES '10 LONDON IPO
* Company valued at around $8-$9 bln - banking source
* IPO could take place in H1 - source
* May list 25 pct of share capital - report
Reuters ...
Monday, 21 December 09
IGCC OUTLOOK CHINA 2010 TO BE HELD IN APRIL 2010 IN SHANGHAI
COALspot.com (China): Press Release - Aiming at unveiling the growth area of IGCC polygeneration, IGCC Outlook China 2010 is planned to be hel ...
Sunday, 20 December 09
GLOBAL COAL MAJORS MAKE THEIR PRESENTATIONS
Major energy companies from four countries, including the U.S., Indonesia and South Africa, have completed detailed presentations before a committee ...
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- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Planning Commission, India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
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