We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
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
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 09 September 20
MARKET INSIGHT - INTERMODAL
The uneventful summer lull which is coming to an end soon has left its stigma on the newbuilding market, which has already been devastated by the g ...
Saturday, 05 September 20
INDIA WON'T KICK ITS COAL HABIT SO EASILY - HINDU BUSINESS LINE
India has traditionally considered itself lucky to have been endowed with abundant coal reserves, which it has sought to use to meet its energy nee ...
Saturday, 05 September 20
FINANCING COMPLETE FOR 900MW FIFTH PHASE OF MASSIVE DUBAI SOLAR PARK: ARABIAN BUSINESS
Saudi-based ACWA Power on Thursday announced it has completed the signing of all financing agreements for the fifth phase of the Mohammed bin Rashi ...
Saturday, 05 September 20
POLISH COAL DEMAND EXPECTED TO FALL BY 7 MLN TONNES NEXT YEAR: MINISTER - REUTERS
Poland’s demand for coal is expected to fall by around 7 million tonnes next year, or more than 10% of annual hard coal production, after a d ...
Saturday, 05 September 20
PAKISTAN'S NEW 27-YEAR POWER PLAN RISKS LOCKING IN LONG-TERM OVERCAPACITY, LEAVING IMPORTED COAL AND LNG PLANTS STRANDED - IEEFA
Wind and solar, the country’s cheapest source of new generation, also overlooked
Pakistan risks locking itself into building m ...
|
|
|
Showing 791 to 795 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
|
| |
| |
|
