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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, 21 October 20
INDIA: THE COMMERCIALISATION OF COAL BLOCKS WILL BENEFIT THE ECONOMY - HINDU BUSINESS LINE
As the government of India receives 76 bids for 23 coal mines against the 38 up on auction, what does this commercialisation of coal block allocati ...
Wednesday, 21 October 20
MARKET INSIGHT - INTERMODAL
The second wave of COVID-19 is now a reality; offices are closing again, and stricter rules and regulations are being implemented in public spaces. ...
Tuesday, 20 October 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.82 PCT - XINHUA
China Taiyuan coal transaction price index stood at 127.49 points Monday, up 0.82 percent week on week.
The index, released by China ...
Tuesday, 20 October 20
BIMCO 'SHIPLEASE' TERM SHEET - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
The ever-growing importance of sale and leaseback transactions as an alternative to financing ships by way of loan, makes ...
Friday, 16 October 20
KOMIPO ON BEHALF OF K GENCO'S INVITED BIDS FOR TOTAL 715,000 MT MIN. 5,700 NAR COAL FOR DECEMBER
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 715,000& ...
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- Siam City Cement - Thailand
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Australian Coal Association
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
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