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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, 09 July 13
NEWCASTLE COAL EXPORTS JUMP 27.53% ON WEEK TO 2.97 MILLION MT
COALspot.com - Newcastle Coal exports up 27.53% to 2.97 million tons W-o-W.
Newcastle port in Australia has loaded 2,974,715 tons of coal for the ...
Tuesday, 09 July 13
CAPESIZE: SHOT UP; PANAMAXES: NOT SO LUCK; SUPRAS: SLIGHTLY BETTER; HANDIES: SOFT - INTERMODAL
COALspot.com : June 2013 Recap
A renewed Capesize market this month (June 2013) was the cause for much of the overall noteworthy performanc ...
Tuesday, 09 July 13
THE 11TH DEEP COAL PROCESSING FORUM 2013
Press Release : The 11th Deep Coal Processing Forum 2013 will be held in November Beijing China.
CDMC Events is pleased to announce that 11 ...
Monday, 08 July 13
ECO-FRIENDLY COAL FOR CHINA - VALUE FOR THE ENVIRONMENT AND VALUE FOR THE POWER GENERATOR - BY: LINDSAY JUNIPER
COALspot.com : January 2013 saw an episode of extreme particulate pollution in Beijing 35 times worse than the safe level recommended by the World H ...
Sunday, 07 July 13
FREIGHT MARKET IS EXPECTED TO BE SOFT TO STABLE NEXT WEEK- VISTAAR
COALspot.com - The freight market softened for the week ended 5 July 2013, and experienced a decline in all sectors, including BDI. Bulk dry Index d ...
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- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
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