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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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Tuesday, 25 August 20
INDIA'S IMPORTS FALL AS LOCKDOWNS IMPACT THE POWER AND INDUSTRIAL SECTORS - REPORT
India is the world’s second largest thermal coal consumer and importer, importing an estimated 211 million tonnes of thermal coal in 2019.&nb ...
Monday, 24 August 20
A COMBINATION OF DEVELOPMENTS DROVE THE FALLOFF COAL PRICES - CHIEF ECONOMIST’ OFFICE, AUSTRALIA
China, rising domestic production combined with subdued power demand;
India, a lockdown coupled with government directives that fav ...
Monday, 24 August 20
AUSTRALIA'S THERMAL COAL EXPORTS ARE FORECAST TO DROP FROM AN ESTIMATED $20 BILLION IN 2019-20 TO $16 BILLION IN 2020-21: REPORT
Thermal coal spot prices have fallen sharply as the impact of COVID-19 drives a contraction in seaborne trade for only the second time this century ...
Saturday, 22 August 20
REPORT SEES INDIA’S RELIANCE ON THERMAL POWER DROPPING TO 50% IN 2021, 43% IN 2026 - ET ENERGY | IEEFA
India’s dependence on thermal power will reduce to 50 per cent by 2021-22 and 43 per cent by 2026-27 on the back of renewable energy (RE) cap ...
Friday, 21 August 20
323 MILLION ELECTRIC VEHICLES WILL BE ON THE ROADS BY 2040 - WOOD MACKENZIE
Electric vehicle (EV) sales are expected to reach 45 million units per year by 2040, with a total global EV stock of 323 million, according to new ...
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- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
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