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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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Wednesday, 03 July 13
NEWCASTLE COAL EXPORTS DIP 24.79 PER CENT WOW
COALspot.com - Newcastle Coal exports fell 24.79% to 2.33 million tons WoW.
Newcastle port in Australia has loaded 2,332,513 tons of coal for the ...
Monday, 01 July 13
12TH CLEAN COAL FORUM INDONESIA 2013
Press Release: Produced by CDMC Events, The 12th Clean Coal Forum Indonesia 2013 will be held on Dec 5-6,2013 in Jakarta, Indonesia. It will generat ...
Monday, 01 July 13
INDIA AND CHINA STILL DOMINATING THE INDONESIAN THERMAL COAL EXPORT MARKET
COALspot.com: Indonesia, the world's largest multi types coal exporter shipped 35.83* million tons of coal in May 2013, 1.40 per cent l ...
Sunday, 30 June 13
YEAR 2014 INDO SUB-BIT COAL SWAPS EXPECTED TO STAY BELOW 2013 LEVEL
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery have gained 0.08 percent on a day lost on week ...
Sunday, 30 June 13
CAPESIZE RATES SEEN INCREASING ON HIGH DEMAND - VISTAAR
COALspot.com - The BDI continued to rise and saw a big gain on Friday. BDI increased 14 per cent week ended 28 June 2013, closed at 1171 points driv ...
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- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
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