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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, 21 August 20
BHP COMMITS TO SELLING ITS THERMAL COALMINES WITHIN TWO YEARS - THE GUARDIAN
Move follows pressure from investors but company stops short of full exit from coalmining
BHP has announced it plans to sell off its ...
Thursday, 20 August 20
MINER BHP CONFIRMS PLANS TO EXIT THERMAL COAL SECTOR - THE SYDNEY MORNING HERALD
The head of mining giant BHP has laid out plans for a reshaping of its global operations by seeking to quit thermal coal mining, offload some cokin ...
Thursday, 20 August 20
LONDON RETAINS ARBITER CROWN - BALTIC EXCHANGE | HFW
Fears that the UK’s decision to leave the European Union would dent the reputation of the nation’s capital as the leader in maritime ar ...
Wednesday, 19 August 20
U.S. COAL STOCKPILES STEADILY INCREASE AFTER REACHING LOWEST LEVEL IN A DECADE IN 2019 - EIA
After reaching their lowest level in more than a decade in March 2019, U.S. coal stockpiles steadily increased to 152 million tons in April 2020, r ...
Wednesday, 19 August 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.26 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.92 points Monday, down 0.26 percent week on week.
The index, released by Chi ...
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- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- White Energy Company Limited
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- PTC India Limited - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
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