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