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Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's aggressive investment strategy adopted by many ship owners, especially traditional ones, who've been in the market for decades. Buying opportunities have rarely been overlooked by shipping investors and this year has been no exception to this rule, as many owners were waiting patiently for their chance to enter the market and acquire some great value assets.
According to the latest weekly report from shipbroker Intermodal, "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".
As per Mr. Konstantinos Kontomichis, SnP broker with Intermodal, "in the newbuilding market, within the first 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)", Kontomichis said.
He also noted that "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. According to Intermodal, "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", Kontomichis concluded.
Meanwhile, over the past week, in the newbuilding market, it continued to witness a high volume of orders and prices have kept firming month by month. Still, "it is slightly encouraging to see that some of the excessive building capacity will soon be removed from the market. Last week, the Jiangsu Provincial Government revealed plans to reduce 10 million dwt of shipbuilding capacity in the region. The reduction will take place over the next two years and comes after careful consideration that the demand of the boom years, which resulted in the over-development of the building capacity in Jiangsu, is no longer there. As China has gone to great lengths to support its domestic shipbuilding industry, especially since the beginning of the financial crisis, it is a sign of a healthier market to also see measures that are bringing back some balance into the demand-supply equation. In terms of new orders, S. Korean owner, Sinokor, placed an order for four firm and four optional Capesize vessels (180,000dwt) at Daehan in S. Korea, for a price of $ 53.0m each and with delivery set in 2016", Intermodal concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
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- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- VISA Power Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
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