We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 18 July 13
DRY BULK MARKETS RETAINS RECENT GAINS, MOVES SIDEWAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on moving sideways this week, as evidenced by the latest trends of the industry's benchmark, the Baltic Dry Index (BDI ...
Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
|
|
|
Showing 4206 to 4210 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
|
| |
| |
|
