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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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Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
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