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