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