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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- White Energy Company Limited
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
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