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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 negative sentiment squeezed asset values and the trigger was pulled for those who were waiting patiently for a good time to enter the market.
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.
In the new building market, within the 1st 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).
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. 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.
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.
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Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
Monday, 01 November 21
COAL PRICES HAVE FURTHER ROOM TO DROP: TOP ECONOMIC PLANNER - GLOBAL TIMES
China’s top economic planner said coal prices have further room to drop on Friday, as the most traded coal futures dropped to below 1,000 yua ...
Saturday, 30 October 21
CHINA'S COAL PRICES SEE BIGGEST WEEKLY FALL IN MORE THAN 5 YEARS - REUTERS
China’s coal futures prices saw their biggest fall in more than five years after the powerful state planner said there is still room to adjus ...
Saturday, 30 October 21
G-20 LEADERS PREPARE STATEMENT TO STOP FUNDING FOREIGN COAL PLANTS - BLOOMBERG
Leaders of the Group of 20 wealthy economies are preparing to pledge to stop funding foreign coal-fired plants, but are still wrangling over climat ...
Friday, 29 October 21
APAC THERMAL COAL SUPPLY TO REMAIN TIGHT AS WINTER LOOMS - FITCH RATINGS
APAC thermal coal prices have surged, hitting historically high levels. The benchmark Newcastle 6,000kcal/kg grade coal reached USD228/tonne in mid ...
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- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Planning Commission, India
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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