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Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
 "While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has shown that if solid demand is there then shipping offers very good returns" - Theodore Ntalakos
Earlier in 2013 we were looking at the fleet and the order book profiles trying to find some signs that would imply whether we were closer to a recovery in order to substantiate further investing in shipping, Theodore Ntalakos, New building / SnP Broker in Intermodal says in his latest research report.
Looking back, we can see that, to-date, it was a good time to invest irrespectively of whether the recent surge was a result of the increased demand for seaborne trade or a change in sentiment that the worst is behind us, or a mixture of both, Theodore Ntalakos noted.
Intermodal's analyst added that, this time, looking at a snapshot of the fleet and order book profile in the beginning of 2013 and today, we can partly explain the recent surge in freight rates as in some segments the trade grew faster than the fleet. On the other hand, in a year of record low average freight rates and record deliveries, even a reduction of 7% in the order book means that more than half of the dry bulk carriers on order as of January 2013 were “re-ordered”. We count around 850 new orders to date.
He added that, the revived interest in new buildings came at the right time for many shipyards, which were urgently looking to fill their 2014 and 2015 slots. The demand has surpassed any expectation since many of the biggest shipbuilders have already sold most of their 2016 berths; not only that but they are now asking a premium for 2015 deliveries which will be squeezed into their production line. The increased demand obviously drove prices up. For many the extent of this price increase cannot be substantiated but it's only logical that many of the shipyards are trying to take advantage of the current market and make sure that the new orders will not make them suffer any losses. The actual number of vessels on order as well as the order book to in service fleet ratio have both receded in all sizes except the Handymax -Ultramax segment where we have seen an increase.
Comparing the dry bulk fleet in service between January 2013 and today we can calculate an increase of 6% in terms of deadweight (in 2012 the fleet grew by 10%). However, there are two more months left in 2013 and assuming there will be some slippage, the fleet will grow by about 8%. So far, with the exception of the fleet of Handies (20,000-40,000dwt) that did not grow at all (there was only a marginal increase of the total dwt and a reduction of the number of vessels), all other sizes grew between 5-7%. One interesting finding is that the Capesize fleet (the 180,000dwt class) has only grown by 3% so far in 2013, which partly explains why China's recent restocking has assisted the recent boom in freight rates.
Concluding his analysis, Theodore Ntalakos said that, while there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has shown that if solid demand is there then shipping offers very good returns. In our humble opinion, for the medium to long term, the demand for seaborne trade will be there and so will healthy market returns.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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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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Showing 4316 to 4320 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
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