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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, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Australian Coal Association
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
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