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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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Friday, 04 September 20
IN A DEEPENING DEBT HOLE OF $34 BILLION, INDONESIA’S PLN MUST STOP DIGGING - IEEFA
The utility has added IDR100 trillion in debt annually for the last five years
Utilities globally started changing the way they do business ye ...
Friday, 04 September 20
KOMIPO INVITED BIDS FOR AUSTRALIAN MIN 5,700 NCV COAL FOR NOVEMBER
COALspot.com: Korea Midland Power Co. Ltd, has issued an International tender for 260,000 MT Min.5,700 kcal/kg NCV coal November, 2020 loading. Acc ...
Thursday, 03 September 20
BRINGING SERVICES OF FTCCI CLOSER TO THE EXPORTERS AT GMR AIR CARGO COMPLEX AT SHAMSHABAD
Press Release: “FTCCI Trade Facilitation Services at your doorstep now” says J.S. Chandrashekar, IRS., Principal Commissioner of Custom ...
Thursday, 03 September 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 02 September 20
COAL PRODUCTION FALLS 7% IN APR-AUG; OFF TAKE DIPS 13.4% - FINANCIAL EXPRESS
In the month of August coal off take also increased 9.3% y-o-y to 44.34 MT as compared with 40.57 MT in the same period last year.
C ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- VISA Power Limited - India
- MS Steel International - UAE
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
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