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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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Tuesday, 03 December 13
PORT OF NEWCASTLE IN QUEENSLAND SHIPPED 1.22 MMT MORE COAL W-W
COALspot.com: In the week ended December 2, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.49 ...
Tuesday, 03 December 13
U.S PRODUCED 900.80 MMST YEAR-TO-DATE
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.7 million short tons (mmst) of coal in ...
Monday, 02 December 13
SUB-BIT INDONESIA COAL SWAP DIFFERENCE BETWEEN Q1 AND Q3 DELIVERIES ARE VERY MARGINAL
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.67 pmt month on month on Friday 29 Novemb ...
Sunday, 01 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR Q2 AND Q3 DELIVERY SHOWS A DECLINE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.63 percept d-d on Friday 29 November 2013. The CFR South ...
Sunday, 01 December 13
PANAMAX RATES HAVE REBOUNDED - CAPT. REDDY
COALspot.com: The freight market was quite firm last week with all the indices increased. Cape Index was gained highest this week which supports inc ...
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- Mercuria Energy - Indonesia
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- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
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- Bhoruka Overseas - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
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- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
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- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
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- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Australian Coal Association
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- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
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- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
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- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
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- Wilmar Investment Holdings
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- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
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- White Energy Company Limited
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- Indonesian Coal Mining Association
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- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
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- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
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- Ministry of Finance - Indonesia
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- Ministry of Transport, Egypt
- The Treasury - Australian Government
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- Planning Commission, India
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- Merrill Lynch Commodities Europe
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- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
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- Standard Chartered Bank - UAE
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- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
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- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Economic Council, Georgia
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- Ambuja Cements Ltd - India
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- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
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- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Thiess Contractors Indonesia
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