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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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Monday, 09 December 13
SOUTH AFRICA'S RICHARDS BAY COAL EXPORTS IN NOVEMBER DECLINED 14.43% M-M
COALspot.com: South Africa's Richards Bay coal terminal exported 6.224 million tonnes of coal in November, declining by 1.05 million tons from the ...
Monday, 09 December 13
SUB-BIT INDONESIA COAL SWAP FOR Q3' 14 DELIVERY CLOSED $ 0.57 LESSER THAN Q1 CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.49 pmt month on month on Friday 6 Decembe ...
Sunday, 08 December 13
SOUTH CHINA COAL SWAPS SHOW A DECLINE TREND IN Q2 & Q3' 14
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 6.76 percept month on month as on Friday 6 December 2013. T ...
Sunday, 08 December 13
RBCT SHIPPED 63.446 MMT OF COALS YTD
COALspot.com - Richards Bay Coal Terminal (RBCT), the world's single largest coal terminal has shipped 63,446,232 mt of coals YTD, according to por ...
Saturday, 07 December 13
SUPRAMAX SHIPS FOR EC INDIA TO CHINA ROUTE BEING FIXED AT AROUND US$ 13K - SOLYM
COALspot.com: The freight market continued to be firm due to high Iron ore demand. The cape index was up by almost 25 pct this week. The grain seaso ...
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- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- The University of Queensland
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
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