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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- The University of Queensland
- Planning Commission, India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Parliament of New Zealand
- ASAPP Information Group - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
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