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