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Friday, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that ship owners have made a significant come back to shipyards, investing once more in new orders. This has been the case so far in 2013 and one could become perplexed as to why owerns are choosing this path, instead of doiong everything in their power to alleviate the tonnage supply pressures currently underway in the freight rate market?
Earlier in the year, shipbroker Intermodal had expressed the view that 2013 would be yet another challenging year, but it would also pose a good opportunity to make investments in shipping, as prices have become quite attractive. "Shortly thereafter, notwithstanding the depressed freight market, the swollen fleet, the remaining orderbook and most importantly the lack of finance, we have witnessed a rather remarkable mini-spree of new orders for dry bulk carriers", Intermodal said in its latest weekly report.
The shipbroker's newbuilding broker, Mr. Theodore Ntalakos wonders whether this new ordering is substantiated or reasonable? He answered by stating that "opponents of new ordering say that the market cannot support further new buildings and those shipowners are shooting themselves in the legs again. However, any rational individual would prefer to buy a new asset at the bottom of its market price. We always advocated that shipping is a non-cooperative game and each rational shipowner would be looking to maximize his pay-offs no matter what the others decide to do. It seems that those who have access to finance are now convinced that prices cannot and most importantly will not go further south; so they place themselves with new orders and purchases. The new ECO designs combined with the lack of modern tonnage from the second hand market are driving buyers to the shipbuilders' meeting rooms", Ntalakos said.
He added that "there were quite a few shipyards that were willing to take orders almost at cost just to safeguard the viability of their production for the next couple of years. In Japan they are also favored by the “Abenomics”, the economic policies advocated by the current Prime Minister Shinzo Abe that allows the Japanese shipbuilders to offer competitive prices and claim their market share from these new orders. All shipyards have seen the number of visitors and inquiries increasing daily, almost reminding them of the good old days. Still, there isn’t strong enough demand to push prices higher but we have noticed that shipbuilders are now bargaining harder than what they did six months or even a year ago".
According to Mr. Ntalakos, "coming back to the statistics, back in February, the Orderbook/Fleet ratio looked more favorable in the capes and Supramax sizes and this is where we have seen the majority of new orders placed. The Handies followed and then came the Panamax bulk carriers, which looked the least attractive and got the fewer orders. For the first four months of 2013 the fleet has grown, as expected, due to the vast orderbook from previous years at around 2.5% and despite the new contracts the orderbook has contracted by around 13.5%".
Intermodal's analyst finally noted that "the latest orders happened to sync with a small rally in the freight market which had almost pushed rates into profitable territories. Whether these orders were placed at the turn of the market or not only time will show but as all markets, shipping as well is strongly correlated with expectations. Things are not clear and there still is risk involved; however, to quote the American author John Shedd “a ship in harbor is safe, but that is not what ships are built for”, the newbuilding broker concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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Showing 46 to 50 news of total 6871 |
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- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Bhatia International Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
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