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