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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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Thursday, 27 August 20
BANGLADESH POWER MINISTRY SEEKING AUTHORITY TO CANCEL 13,000 MW OF PROPOSED COAL-FIRED CAPACITY - BUSINESS STANDARD
In a bid to move away from dirty energy, the Ministry of Power, Energy and Mineral Resources is seeking the prime minister’s approval to conv ...
Wednesday, 26 August 20
ASIAN COAL PRICES LIKELY TO REMAIN DEPRESSED SAY TRADERS, ANALYSTS - REUTERS
Asian coal prices, which have fallen around 25% this year as power demand slumped due to the coronavirus outbreak, are unlikely to move higher befo ...
Wednesday, 26 August 20
WORLD COAL EXPORTS: INDONESIAN THERMAL COAL EXPORTS HAVE COME UNDER PRESSURE AS THERMAL COAL PRICES WEAKEN - REPORT
Indonesia’s exports to decline sharply from record highs
Indonesia is the world’s largest thermal coal exporter, sellin ...
Wednesday, 26 August 20
JAPAN'S COAL IMPORTS ARE BEING AFFECTED BY COMPETING INFLUENCES - REPORT
Japan is the world’s third largest thermal coal importer, importing an estimated 135 million tonnes of thermal coal in 2019. The country&rsqu ...
Wednesday, 26 August 20
PENDING SOUTH KOREA LEGISLATION COULD FORCE HALT TO COUNTRY’S COAL PLANT EXPORT DEALS - KOREA ECONOMIC DAILY
South Korea’s parliament looks set to pass new legislation to ban financing on foreign coal power projects, putting all overseas coal-fired p ...
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Showing 811 to 815 news of total 6871 |
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- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
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