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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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Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- The Treasury - Australian Government
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- PTC India Limited - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Parliament of New Zealand
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