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