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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, 09 May 13
KILLARA AUSTRALIA ACQUIRES 80% INTEREST IN BORNEO EMAS HITAM
COALspot.com - Killara Resources has announced that, the company has signed a binding MoU to acquire an 80% equity interest in PT. Borneo Emas Hitam ...
Thursday, 09 May 13
THE WORLD LARGEST POWER PLANT COAL EXPORTER SHIPPED 36 MILLION TONS OF COAL IN MARCH
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 36.165* million tons of coal in March 2013.
Ac ...
Thursday, 09 May 13
DRY BULK SHIP OWNERS KEEP BUILDING NEW VESSELS ON THE BACK OF LOWER PRICES AND IMPROVED MARKET PROSPECTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the doom and gloom that the dry bulk market has experienced during the past couple of years and especially during 2012, ship owners have inc ...
Thursday, 09 May 13
HANDY : RBCT ROUNDS FIXED AT USD 8000 DOP ECI - FEARNRESEARCH
Handy
The atlantic market started to pick up with new orders. The USG-Feast was at USD 20k and Black sea-feast was at USD 12k. The pacific mkt rema ...
Wednesday, 08 May 13
PANAMAX VESSELS PROVE TO BE "STARS OF THE MONTH" FOR THE DRY BULK MARKET DURING APRIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
They have taken a beating on various occasions during the past few years of the dry bulk market's crisis, but the fact remains, that despite the he ...
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- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
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