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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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Showing 41 to 45 news of total 6871 |
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- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- White Energy Company Limited
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- The University of Queensland
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Bharathi Cement Corporation - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
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