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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, 11 December 13
THE INDONESIAN GOVERNMENT IS CONSIDERING SETTING A REGULATION ON THE MINIMUM PURITY TO REGULATE UNPROCESSED ORE BAN
COALspot.com: Energy and Mineral Resources Minister Jero Wacik recently proposed to house those mining (mineral) companies that had shown a commitme ...
Wednesday, 11 December 13
BDI REACHED A PEAK OF YEAR RECORD OF 2,237 POINTS WHICH IS A SIGNIFICANT CHANGE IN MARKET CONDITIONS
Getting closer to the end of 2013, it is important that we have a review of the course the market has taken these past 12 months by looking at the B ...
Tuesday, 10 December 13
HNL, AN INDIAN STATE-OWNED NEWSPRINT PAPER MAKER SEEKS 50K TONS OF INDONESIAN 5600 COAL
COALspot.com: Hindustan Newsprint limited (HNL), an Indian state owned news print paper producer invited bids to supply 50,000MT of min 5,200kcal/kg ...
Tuesday, 10 December 13
COLOMBIAN THERMAL COAL EXPORTS SLIPPED 25.54% M-M IN OCTOBER'13
COALspot.com: Colombia's Thermal coal exports in October dropped 25.54% month on month to 5,990,815.13 million mt, according to data from mining de ...
Tuesday, 10 December 13
NEWCASTLE COAL EXPORTS PLUNGE W-O-W
COALspot.com: In the week ended December 9, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.50 ...
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- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Minerals Council of Australia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Australian Coal Association
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- The University of Queensland
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
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