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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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Tuesday, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
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- Economic Council, Georgia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
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