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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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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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Showing 826 to 830 news of total 6871 |
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- Essar Steel Hazira Ltd - India
- The University of Queensland
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Economic Council, Georgia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
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