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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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Saturday, 13 April 13
THE FREIGHT MARKETS EXPECTED TO HOLD FIRM NEXT WEEK - CAPT. REDDY
COALspot.com - This freight market firmed up this week and all sectors were up except for Supramax index.
The BDI was up by 1.62 pct closing at 8 ...
Friday, 12 April 13
DRY BULK SHIP OWNERS DEVELOPED NEWFOUND APPETITE FOR BULKERS DURING FIRST QUARTER OF 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's official; more and more ship owners operating in the dry bulk market appear to have developed a newfound optimism in the market's prospects. ...
Thursday, 11 April 13
HANDY: INDO - INDIA NOW BEEN REPORTED AT APS BASIS AT USD 10K+BB 85K - FEARNLEYS
Handy
The Atlantic markets remain with not many cargoes seen this week. The USG-Feast was at USD 18k and Black Sea-Feast was at USD 12k. The Pacifi ...
Thursday, 11 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 15.96 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,545,914 tons of thermal and coking coal for week ended 0700 hours 8 April 2013, Newcas ...
Thursday, 11 April 13
TNEB HAS OPENED 4.2 MILLION TONS IMPORTED COAL TENDER
COALspot.com - TANGEDCO, the state run utility TANGEDCO (formerly known as TNEB), Tamil Nadu state owned electricity company has opened bids to purc ...
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- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Economic Council, Georgia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
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