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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.
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Wednesday, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
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- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Merrill Lynch Commodities Europe
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