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