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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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Showing 3976 to 3980 news of total 6871 |
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- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
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