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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, 07 May 13
NEWCASTLE PORT'S COAL EXPORTS HOLD STEADY WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,975,160 tons of thermal and coking coal for week ended 0700 hours 6 May 2013, Newcastl ...
Monday, 06 May 13
INDONESIAN COAL PRICE REFERENCE FALLS CONTINUE
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $ 3.23 / MT in May 2013.
The monthly coal pr ...
Sunday, 05 May 13
SUB-BIT FOB INDONESIA COAL - MIXED TREND; API 8 CFR SOUTH CHINA COAL - POSITIVE TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average June 2013 delivery has gained 0.28 percent and API 8 CFR South China Coal shipment&nb ...
Saturday, 04 May 13
INDONESIA TO INDIA PANAMAX FREIGHT : FLAT TO SOFT - CAPT. REDDY
COALspot.com - The demand for iron ore picked up and its pushed up the cape size index by 7.86 pct. Cape index closed at 1,344 points. The BDI ...
Friday, 03 May 13
US PRODUCED 17.9 MILLION SHORT TONS (MMST) OF COAL IN A WEEK
COALspot.com - U.S. produced totaled approximately 17.9 million short tons (mmst) in a week (For the week ended April 27, 2013), EIA said in its lat ...
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- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- The University of Queensland
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
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