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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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Sunday, 22 December 13
QUIET FREIGHT MARKET DUE TO LONG HOLIDAYS
COALspot.com: The market was soft this week with all indices down. However towards second half of the week the futures on segments was firming up.
...
Friday, 20 December 13
US PRODUCED 2.71% MORE COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal in ...
Friday, 20 December 13
DRY BULK MARKET SLUMPS AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As has been the case in recent years, the dry bulk market has been on a downward trend ahead of the Holiday Season for a large part of the world. Th ...
Thursday, 19 December 13
SHIPPING CONFIDENCE HITS THREE-YEAR HIGH - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for more than three years over the three-month period to November 201 ...
Wednesday, 18 December 13
SNP ACTIVITY IN CHINA SEEMS TO BE SLOWING DOWN - CHRISTOS TRAGEAS
Approaching the end of the year, SnP activity in China seems to be slowing down in comparison to the first half of this quarter, as most Chinese Shi ...
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- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
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