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