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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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Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
Sunday, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
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- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
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