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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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Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
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- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
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