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