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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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Tuesday, 30 July 13
KOMIPO INVITES BIDS FOR 520,000 MT OF 5,700 KCAL/KG COAL ON NAR BASIS FOR H1, 2014
COALspot.com : Korea Midland Power Co., Ltd. has invited bids for 520,000 Metric Tons (MT) of coal with calorific value 5,700 kcal/kg on NAR basis f ...
Tuesday, 30 July 13
AUSTRALIA'S NEWCASTLE SHIPPED 12.58 PERCENT LESS COAL W-O-W
COALspot.com: Newcastle port in Australia has loaded 2,945,848 tons of coal for the week ended 0700 hours 29 July 2013, Newcastle Port Corp. s ...
Monday, 29 July 13
INDONESIA'S ENERGY NEEDS COULD SPELL GOOD NEWS FOR TANKER OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite abundant energy resources, Indonesia has still failed meet its own demand, which led to a rising import of crude. According to the latest we ...
Sunday, 28 July 13
SUB-BIT INDONESIA COAL SWAP UP SLIGHTLY FOR SEPTEMBER CARGOES
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average September 2013 delivery slightly up on day and week but fell on month on ...
Saturday, 27 July 13
CEPL INDIA TO BAG 0.3 MILLION TONS OF COAL SUPPLY ORDER FROM TNPL
COALspot.com - An India based coal trader Coastal Energy Private Limited has offered the lowest price of US$ 73.00 per metric ton for calorific valu ...
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- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
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