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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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- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Planning Commission, India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
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