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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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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- White Energy Company Limited
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
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