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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, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
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 ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
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