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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, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
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- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Planning Commission, India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Georgia Ports Authority, United States
- Australian Coal Association
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
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