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