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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, 07 May 13
NEWCASTLE PORT'S COAL EXPORTS HOLD STEADY WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,975,160 tons of thermal and coking coal for week ended 0700 hours 6 May 2013, Newcastl ...
Monday, 06 May 13
INDONESIAN COAL PRICE REFERENCE FALLS CONTINUE
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $ 3.23 / MT in May 2013.
The monthly coal pr ...
Sunday, 05 May 13
SUB-BIT FOB INDONESIA COAL - MIXED TREND; API 8 CFR SOUTH CHINA COAL - POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.28 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 04 May 13
INDONESIA TO INDIA PANAMAX FREIGHT : FLAT TO SOFT - CAPT. REDDY
COALspot.com - The demand for iron ore picked up and its pushed up the cape size index by 7.86 pct. Cape index closed at 1,344 points. The BDI ...
Friday, 03 May 13
US PRODUCED 17.9 MILLION SHORT TONS (MMST) OF COAL IN A WEEK
COALspot.com - U.S. produced totaled approximately 17.9 million short tons (mmst) in a week (For the week ended April 27, 2013), EIA said in its lat ...
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- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
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