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Wednesday, 04 December 13
THE BUYERS' DEMAND IS CONTINUOUSLY BULLISH - KONSTANTINOS KONTOMICHIS
 The very low rates that prevailed for the bigger part of 2013 seem to have prepared the ground for buying opportunities for shipping investors. The negative sentiment squeezed asset values and the trigger was pulled for those who were waiting patiently for a good time to enter the market.
It was mainly traditional ship owners who moved aggressively by acquiring vessels and by placing new orders especially in the dry sector. The Panamax size segment has gained the most interest followed by Supramaxes, Handies and during the third quarter of the year from Capesizes as well, which gave us the signal of the forthcoming positive movement of Baltic Dry Index.
In the new building market, within the 1st half of the year, the majority of the bigger Chinese shipbuilders have booked all their available slots with deliveries up until Q4 of 2016. The lack of slots with prompt delivery in the Chinese shipbuilding industry during the 2nd half of 2013 was partly responsible for driving newbuilding prices up by so much.
Indicative is the Ultramax's asking price, which is currently in the region of USD 28 mill with delivery at the end of 2016 and onwards, boosted almost 15% higher than the USD 24 mill price quoted in the 1st quarter of the year. The same was also witnessed in the second hand market where a 10 year old Japanese Panamax vessel would be sold in the region of USD 14 mill and reaching the 4th quarter of 2013 it can be sold in excess of USD 16 mill (an increase of approximately 15% as well).
With the exception of the negative movement of the BDI during the last few weeks, the sentiment still appears to be very positive. The buyers' demand is continuously bullish. The M/V Carol (abt 75.000 dwt / 1999 blt Japan) has been sold at the very firm price of USD 14.3 – 14.2 mill. Most notable though is that this lady has been physically inspected by 17 parties.
This situation is not unique for the dry bulk market and is taking place across all sectors, as there is similar buying interest for all sizes and once a quality candidate appears, prospective buyers are quickly queuing to inspect. During October/November, the Capesize “Su Oh” (about 171.000 dwt / 1997 blt Japan) and the Supramax vessel “Maple Creek” (about 53.000 dwt / 2005 blt Japan) were inspected by 15 and 10 prospective buyers respectively.
Entering into the final month of the year, we cannot but accept that 2013 was more prosperous than most of us would have expected it to be. The hope that even better days are coming sooner rather than later, after all these years of anticipation further supports those who placed their bets on a market recovery by acquiring a ship within 2013, as they have already enjoyed the positive outcomes either in terms of better charter rates or increase in the value of their asset.
Nothing is carved in stone yet but I believe that the following months should be very active month in terms of SnP activity.
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
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