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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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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on ex ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
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- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
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