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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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- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
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