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Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
 COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
The truth is that from the very start of the year we had good omens pointing to a change in conditions. The start of all this seemed to have been initially brought about by the increased activity that was triggered early on in the year by the continuous drop in value of the Japanese Yen, and more directly by the change in investor perception regarding the level that second-hand and new building prices had reached. This increased activity in the dry bulk market started to gradually build up and in turn creating more buying interest and pushing prices upwards.
With all this we have managed to see a stellar year in terms of activity, with second-hand sale and purchase activity reaching over 1,500 in number which is considerable improvement compared to the 1,223 that took place in 2012 and the 1,154 in 2011. From this total for 2013, around a quarter were made by Greek buyers, followed by the Chinese which had less than a third of what Greek buyers managed. What makes this even more extraordinary is that these Greek purchases were made in the backdrop of a troubled ship financing sector especially when it comes to Greek banks which faced complete restructuring half way through the year, leaving them with limited resources for use to further support second-hand purchases. One of the biggest transitions in this regard has been the extent to which we have seen private equity funds turning their attention towards shipping and stepping up to fill part of the financing void that has been created these past couple of years.
There was also a similar development in the new building market, where despite the limited activity of new orders made during 2012, the past 12 months we have seen a dramatic turn around with most shipbuilders’ order books filling up until early 2016 delivery. The total number of new orders reached over 2,000 units for the main four ship types (i.e Dry Bulkers, Tankers, Containers and Gas Carriers), which is a considerable increase compared to the respective 881 noted in 2012. In terms of which shipbuilding nation took the leading role, this year was the chance for Chinese shipbuilders to retake the reigns and receive almost 40% of all the new orders placed. In comparison S. Korean and Japanese shipbuilders both received around 16% each of all the new orders placed. In respect to buyers, Greek and Japanese owners were closely tied first place in terms of volume of new orders made, although Greeks overall made orders for larger vessels. Taking into consideration what we had seen throughout 2013, it looks as though there is much to look forward to for the next 12 months. The market players look to be considerably more optimistic than a year back and with limited new deliveries scheduled for this year when compared to previous years, it looks that there is a possibility that the balance between supply and demand may well be even better this year. With much of the worst now seeming to be well behind us it is a matter of how owners will find new and novel ways to fund the opportunities that they find and if they prove to be profitable ventures will that eventually change the perception amongst traditional ship financing banks allowing them to renter the scene and pull the market into even better prospects.
by George Lazaridis
Research Analyst
Compiled by:
Intermodal Research & Valuations | research@intermodal.gr
Analysts:
Mr. George Lazaridis | g.lazaridis@intermodal.gr
Ms. Eva Tzima | e.tzima@intermodal.gr
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
Monday, 30 December 13
INDONESIAN COAL TO BE PART OF INDEX DETERMINING POWER TARIFFS - BUSINESS STANDARD
In a significant move, power sector regulator CERC has decided to provide 50 per cent weightage for Indonesian coal in the benchmark index that is u ...
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- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
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