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