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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, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- PTC India Limited - India
- Central Electricity Authority - India
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