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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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Monday, 22 July 13
INDO COAL SWAP FOR AUGUST 13 DELIVERY GAINED ON WEEK BUT LOST ON DAY AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery slightly up on week but fell on day and month on Fri ...
Friday, 19 July 13
U.S.COAL PRODUCTION TOTALED APPROXIMATELY 19.60 MMST WEEK ENDED JULY 13
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 19.60 million short tons (mmst) of ...
Friday, 19 July 13
TNPL IS LOOKING FOR 300 K MT OF 6000 GAD COAL FOR FIVE MONTH
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 5 shipments about 60,0 ...
Thursday, 18 July 13
3RD ANNUAL FLOATING TERMINALS, INDONESIA
Commercial applications for offshore transshipment facilities
Floating Terminal solutions are increasingly being deployed by miners, independent ...
Thursday, 18 July 13
THE CAPE MARKET APPEARS TO BE HOLDING FIRM - FEARNLEYS AS
Handy
In the Pacific, market maintained similar levels during the week. There is several Indo coal orders in the market, ships passing Singapore fi ...
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Showing 4201 to 4205 news of total 6871 |
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- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- The University of Queensland
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- VISA Power Limited - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
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