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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, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Minerals Council of Australia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
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