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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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Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
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Showing 4396 to 4400 news of total 6871 |
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- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
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- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
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- Edison Trading Spa - Italy
- Ministry of Mines - Canada
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- Indika Energy - Indonesia
- Minerals Council of Australia
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- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
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- Wilmar Investment Holdings
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
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- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
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