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