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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, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
Tuesday, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
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- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
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- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Planning Commission, India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
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- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
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