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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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Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
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- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- The University of Queensland
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
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