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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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- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
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