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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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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 ...
Friday, 27 December 13
THE EXPORT OF UNPROCESSED MINERALS WOULD NOT BE ALLOWED AFTER 12 JAN 2014 - INDONESIAN ENERGY MINISTER
COALspot.com: The government of Indonesia will implement Law No. 4 of 2009 on Mineral and Coal in full and consistently by January 12, 2014, said, m ...
Friday, 27 December 13
INDONESIA SHIPPED 15.75 PERCENT MORE COAL IN NOVEMBER
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $2* billion worth of co ...
Thursday, 26 December 13
COAL & OIL GROUP SECURES US$ 250 MILLION FUNDING FOR ITS 1200MW THERMAL POWER PLANT IN INDIA
COALspot.com: Dubai-based Coal & Oil (C&O) Group has announced that it has secured additional funding of approximately Dhs. 1 billion (appro ...
Wednesday, 25 December 13
DRY BULK INDEX LOST SOME GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Softer - )
The Dry Bulk Index lost some ground this past week, on the back of activity slowing down befor ...
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- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
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