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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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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
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