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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, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
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- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- VISA Power Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
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