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