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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, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
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