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