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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, 14 May 13
KALIMANTAN COAL
Press Release : After a very successful conference in 2012, the second annual event will address latest market developments and address the future p ...
Tuesday, 14 May 13
NEWCASTLE PORT'S COAL EXPORTS FALL 6.83 PERCENT
COALspot.com - Newcastle port in Australia has loaded 2,771,891 tons of thermal and coking coal for week ended 0700 hours 13 May 2013, Newcast ...
Monday, 13 May 13
SGX ASIACLEAR OTC COAL SWAPS : RELATIVELY STABLE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.15 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 11 May 13
INDONESIA TO INDIA COAL FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK
COALspot.com - This week the market remained flat compared to last week. BDI slightly up 0.68 pct and closed at 884 points and the cape size index u ...
Friday, 10 May 13
U.S. PRODUCED TOTALED APPROXIMATELY 18.5 MMST OF COAL W/E 4 MAY 2013
COALspot.com - U.S. produced totaled approximately 18.5 million short tons (mmst) of coal in a week (For the week ended 4 May, 2013), EIA said in it ...
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- Karaikal Port Pvt Ltd - India
- Australian Coal Association
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- White Energy Company Limited
- Malabar Cements Ltd - India
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- Romanian Commodities Exchange
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- London Commodity Brokers - England
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
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- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Latin American Coal - Colombia
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- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
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- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
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- Metalloyd Limited - United Kingdom
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- Interocean Group of Companies - India
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- Economic Council, Georgia
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- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
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- IHS Mccloskey Coal Group - USA
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- Merrill Lynch Commodities Europe
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- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
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- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
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- Jindal Steel & Power Ltd - India
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- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
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- GAC Shipping (India) Pvt Ltd
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- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Minerals Council of Australia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
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- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
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- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Thai Mozambique Logistica
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- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
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- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
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- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- The University of Queensland
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Africa Commodities Group - South Africa
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- The State Trading Corporation of India Ltd
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- Global Business Power Corporation, Philippines
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