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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, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
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- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Planning Commission, India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
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