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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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Thursday, 30 May 13
HANDY: RBCT ROUND WAS AROUND USD 9K + 300 BB - FEARNRESEARCH
Handy
THE Atlantic market remained flat. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 12k. The Pacific market remained quiet with no ...
Wednesday, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
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- White Energy Company Limited
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
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