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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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Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
Wednesday, 04 December 13
INDONESIAN COAL EXPORTS VOLUME AND REVENUE IN OCTOBER MARCHED TOWARDS NORTH
COALspot.com: Indonesia, the world's 4th largest coal producer and the largest multi grade coal exporter shipped over $1.76* billion worth of ...
Wednesday, 04 December 13
WEST AUSTRALIA IRON ORE FIXTURES ALSO CONTINUING TO PROVIDE A STEADY FLOW OF BUSINESS FOR CAPES - INTERMODAL
The Dry Bulk market has reversed course this past week, bringing back some of the lost excitement of the past month, as all size segments climbed hi ...
Wednesday, 04 December 13
SGX AND CFA TO COLLABORATE TO DEVELOP DERIVATIVES MARKETS IN CHINA AND SINGAPORE
Singapore Exchange (SGX) and the China Futures Association (CFA) are cooperating in the development of derivatives markets in China and Singapore.
...
Wednesday, 04 December 13
SGX'S MONTHLY VOLUMES REACHED A RECORD HIGH OF 705,000 MT IN NOVEMBER 2013
COALspot.com: SGX has announced that, it monthly volumes have reached a record high of 705 lots (705,000 mt) in November 2013 with month-end open in ...
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- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
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