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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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Showing 61 to 65 news of total 6871 |
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- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
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