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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, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
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- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
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