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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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Wednesday, 25 November 20
DRY BULK SHIPPING: CHINA REMAINS THE DRIVING FACTOR, BUT COAL POLICY IS DISRUPTING THE MARKET - PETER SAND, BIMCO
The second half of the year has provided some cheer for the dry bulk market, with all ships in the spot market averaging earnings above the break-e ...
Wednesday, 25 November 20
CHINA KICKS AN OWN GOAL WITH AUSTRALIAN COAL - FORBES
China’s annoyance at Australia’s hardline stance on political interference and demands for an independent inquiry into the root cause o ...
Wednesday, 25 November 20
MINISTER - INDONESIA JAN-OCT COAL OUTPUT AT 459 MILLION TONNES - REUTERS
Indonesia coal output in the January to October period was 459 million tonnes, the country’s energy minister told parliament on Monday.
& ...
Wednesday, 25 November 20
INDIA: MORE STEPS NEEDED TO MAKE COMMERCIAL COAL MINING ATTRACTIVE TO GLOBAL PLAYERS - LIVEMINT
India concluded its first commercial coal mine auctions earlier this month. A total of 19 coal mines spread across Madhya Pradesh, Jharkhand, Odish ...
Wednesday, 25 November 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.38 PCT - XINHUA
China Taiyuan coal transaction price index stood at 129.21 points Monday, up 0.38 percent week on week.
The index, released by China ...
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Showing 726 to 730 news of total 6871 |
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- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
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