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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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Thursday, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- GMR Energy Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Australian Coal Association
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
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