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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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Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
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- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
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