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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, 18 August 20
BLACKBALLED: WILL COAL BOUNCE BACK FROM SLUMP OR IS IT TERMINAL? - SYDNEY MORNING HERALD
Even by the standards of this miserable year, 2020 has been a shocker for the global coal industry.
As the lockdown kicked in demand ...
Friday, 14 August 20
EIA: COAL PLANTS UNECONOMICAL IN MOST REGIONS - IEEFA
U.S. coal power generation plunged by 30 percent in the first half of 2020 off an already-depressed base, shoved out by natural gas and renewables ...
Thursday, 13 August 20
INDIA SHOULD RECORD A SLIGHT DECREASE IN THERMAL COAL IMPORTS, REACHING A VOLUME OF 167 MILLION TONS BY THE END OF 2020 - ASSOCARBONI
Regarding 2020 thermal coal imports forecasts, Vietnam’s coal imports showed a very strong growth in the first half of 2020 and it is believe ...
Thursday, 13 August 20
INDONESIA REMAINS THE LARGEST EXPORTER OF COAL IN THE WORLD - ASSOCARBONI
According to the last Assocarboni data for 2019, Indonesia remains the largest exporter in the world. Thermal coal exports have in fact reached 456 ...
Wednesday, 12 August 20
VIETNAM WAS THE PROTAGONIST OF A SIGNIFICANT INCREASE IN COAL IMPORTS IN 2019 - ASSOCARBONI
The latest Assocarboni data for 2019 also provide a detailed picture on the trend of the global coal import.
According to Assocarbon ...
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- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
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