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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, 04 June 13
NEWCASTLE PORT SHIPPED 2.56 MILLION TONS OF COAL IN A WEEK
COALspot.com - Newcastle port in Australia has loaded 2,563,596 tons of coal for week ended 0700 hours 3 June 2013, Newcastle Port Corp. said ...
Tuesday, 04 June 13
WOOD MACKENZIE SAYS THE CHINA'S THERMAL COAL DEMAND WILL REACH NEARLY 7BTPA BY 2030
COALspot.com - The Illusion of Peak Coal' says that despite efforts to limit coal consumption and seek alternative fuel options, China's strong ap ...
Saturday, 01 June 13
COAL PRICES STRUGGLE TO FIRM UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.18 percent week on week and 0.03 percent ...
Saturday, 01 June 13
THE FREIGHT MARKET FOR S7 AND S8 SECTORS ARE EXPECTED TO BE SOFT - VISTAAR
COALspot.com – The freights are remains weak week ended 31 May 2013, as BDI fell 2.05 pct and closed at 809 points on 31 May 2013.
The Cape ...
Friday, 31 May 13
US PRODUCED 18.5 MILLION SHORT TONS OF COAL W/E 25 MAY 2013
COALspot.com – United states the world’s second largest coal producer produced totalled approximately 18.50 million short tons (mmst) of ...
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- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
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- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
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- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
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- Minerals Council of Australia
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- Indian Oil Corporation Limited
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- Alfred C Toepfer International GmbH - Germany
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- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- The University of Queensland
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Australian Coal Association
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
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